Meta Platforms Inc’s META Instagram is discontinuing the role of technical program managers. The move requires affected employees to reinterview for alternate roles, with the risk of being terminated by March if they fail to secure a new position.
What Happened: Instagram started the year by notifying a minimum of 60 employees about the dissolution of their jobs. The significant change, which impacts technical program managers throughout the Instagram organization, took place this week, according to a report by Business Insider.
After the eradication of the role, affected employees can reinterview for other positions, such as program manager. However, if they fail in this quest, their tenure at the company will conclude in March.
See Also: SEC Twitter Hacked: Fake Bitcoin ETF Approval Tweet Creates Market Mayhem
This move aligns with Meta CEO Mark Zuckerberg‘s recent mantra of “efficiency,” introduced last year. This strategy focuses on cutting down layers of management, resulting in numerous layoffs, and a reduction in the rate of promotions and hiring, though some laid-off employees have been rehired.
An email sent by Benzinga to Meta seeking comment didn’t elicit any response till the time of publishing this story.
A former Instagram employee discussed the “expected changes to TPM roles” on LinkedIn, noting that employees are expected to “re-interview for PM roles” or product manager roles.
Why It Matters: The elimination of the technical program manager role at Instagram is part of a broader trend of layoffs at Meta. The company has been reducing its workforce, as seen in its metaverse-oriented silicon unit, Reality Labs, in October last year.
This development came after Zuckerberg announced that he and his family are raising a herd of cattle fed on macadamia nuts and beer on their $100 million ranch on the Hawaiian island of Kauai. Zuckerberg described his latest project as the “most delicious” one that he has undertaken so far, and he’s taking the help of his daughters to bring up cattle.
Read Next: Bitcoin, Ethereum, Dogecoin Drop As ETF Decision Deadline Nears: Analyst Predicts ‘Nice 10x’ For Apex Cry
Image Via Shutterstock
Engineered by Benzinga Neuro, Edited by Kaustubh Bagalkote
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
