Gene Munster, managing partner at Deepwater Asset Management, has said that Mark Zuckerberg’s leadership approach at Meta Platforms Inc. META has changed since he started learning jiu-jitsu.
What Happened: On Tuesday, Munster pointed out that Meta’s 5% workforce reduction is a reflection of this strategic shift.
This follows previous reductions of 5% in 2024, 11% in 2023, and 13% in 2022. Despite these cuts, Zuckerberg plans to refill the positions, ensuring that severance costs do not impact Meta’s operating margin, he stated.
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Why It Matters: At its core, Jiu Jitsu teaches principles of gentleness, mutual welfare, and maximum efficiency, according to Zenyo Jiu Jitsu, a website about the martial art. In 2023, Zuckerberg labeled the year as the company’s “year of efficiency” and announced plans to cut 10,000 jobs.
At the time, he said, “Change is never easy, but I know we'll get through this and come out an even stronger company that can build better products faster and enable you to do the best work of your careers.”
In a June 2023 interview with Lex Fridman, Zuckerberg underscored the importance of embracing embarrassment as a catalyst for growth.
He explained that his commitment to Jiu-Jitsu embodied this philosophy, as the physically challenging discipline humbled him during his early stages, teaching him valuable lessons through moments of being "kicked" and feeling "stupid."
Meta’s workforce reductions are part of a broader trend in the tech industry. In December 2024, Alphabet Inc. GOOG GOOGL announced a 10% reduction in top management roles to streamline operations.
Similarly, Elon Musk’s X, formerly Twitter, also reportedly faced significant layoffs in November 2024, particularly affecting the engineering department.
Meta is set to announce its fourth-quarter earnings on Jan. 29. In October last year, Meta reported third-quarter revenue of $40.59 billion, surpassing analyst expectations of $40.29 billion.
Price Action: Meta’s stock dropped 2.31% on Tuesday, but saw a 0.21% gain in after-hours trading, closing at $592.52, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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