Meta Prepares For More Job Cuts, To Downsize About 1K In Major Business Overhaul

Meta Platforms, Inc META eyed a fresh round of job cuts that could affect thousands of workers likely in the coming months.
The Facebook parent consulted human resources, lawyers, financial experts, and top executives to help deflate the company's hierarchy, the Washington Post reports.
Meta proposed to push some leaders into lower-level roles, flattening the layers of management between Meta CEO Mark Zuckerberg and the company's interns.
Other managers may end up overseeing a higher number of employees as their teams expand. Meta also weighed slashing some projects and jobs.
Meta targeted divisions across the company and around the world.
The job eliminations arrived after Zuckerberg sought to reassure workers that he did not "anticipate more layoffs" after the company slashed 11,000 jobs or roughly 13% of its workforce in November.
But in February, Zuckerberg promised investors he would trim middle management and speed up the company's decision-making, hinting at the possibility of more cuts.
The cuts will likely disproportionately affect workers in non-engineering roles.
The leaders will use various factors, including performance ratings, job duties, and compensation, to identify places to downsize.
Meta also reshuffled its top leaders. In February, Meta Chief Business Officer Marne Levine shared her exit plans after 13 years.
Meta's advertising business got hit by the pullback in digital spending, Apple Inc's AAPL privacy restrictions, and competition from short-form video network TikTok.
Price Action: META shares traded lower by 0.20% at $171.74 on the last check Wednesday.

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