Stressed Meta employees demand answers from Mark Zuckerberg
‘How can we trust you?’ Stressed Meta employees demand answers from Mark Zuckerberg as tech giant axes another 10,000 jobs
- It was Zuckerberg’s first address to workers since the most recent round of cuts
- He was asked how employees could ‘trust leadership decisions’
- Zuckerberg has said that 2023 would be a ‘year of efficiency’
Meta CEO Mark Zuckerberg was forced to play defense during a company video call Thursday when staff demanded to know how they can trust him after another round of firings.
Facebook parent company Meta has confirmed it will axe 10,000 jobs in the coming months, on top of the 11,000 that were slashed in December, shrinking its staff count by another 13 percent.
Zuckerberg took ‘anonymous’ questions from various employees during a meeting, including one from a worker who asked how employees could ‘trust leadership decisions after two rounds of layoffs.’
He responded: ‘I would guess that the way that you will evaluate whether you trust me and whether you want to work at this company is whether we’re succeeding and making progress towards the overall state of goals.’
The layoffs come after Zuckerberg had previously warned Meta employees that 2023 would be a ‘year of efficiency.’
On a company video call Thursday, Meta CEO Mark Zuckerberg (pictured) was forced to play defense after an employee asked how he can be trusted to lead after another round of firings
Zuckerberg took ‘anonymous’ questions from various employees during a meeting where he was posed by one worker how employees could ‘trust leadership decisions after two rounds of layoffs’
‘Whether you think you basically get good context for me on what we’re trying to do and that I’m being honest and giving you my best expectation that that I can of things,’ Zuckerberg added, according to Insider.
Another employee asked him what had changed since November, when Zuckerberg had claimed the first round of layoffs would prevent further firings like the ones that happened earlier this week.
Zuckerberg said that while it was a fair question, he asked for the right to evolve his opinions amid a ‘volatile’ economy.
‘My guess is that we’re we’re not the only company that’s going through multiple rounds of restructuring or things like that. I’m sure there are going to be a lot more as well over the long term,’ Zuckerberg said.
He also said he understood employees stress levels had been raised by the job cuts but promised the company was doing its best to be transparent.
Those impacted by the layoffs will be people working on lower priority projects and those providing extra layers of management, , according to Zuckerberg.
A spokesperson for Meta declined to comment.
Combined, the cuts account for just under a quarter of the company’s 86,000-person workforce. Zuckerberg made the announcement on his Facebook page, sharing the internal memo he sent employees.
In the US, recruiting teams will be the first to have jobs cut. Impacted tech teams will lose positions at the end of April, and business branches will see jobs cut in May.
Zuckerberg confirmed international layoffs will also occur, but will take longer.
‘Overall, we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired.
‘This will be tough and there’s no way around that. It will mean saying goodbye to talented and passionate colleagues who have been part of our success,’ he said.
He responded: ‘I would guess that the way that you will evaluate whether you trust me and whether you want to work at this company is whether we’re succeeding and making progress towards the overall state of goals
Meta CEO Mark Zuckerberg confirmed the layoffs in an announcement on Tuesday morning
Zuckerberg, writing on his Facebook page, said the layoffs were part of the company’s ‘year of efficiency’
The layoffs are part of a wider strategy to make the company more ‘efficient and lean’.
‘Leaner is better. Since we reduced our workforce last year, one surprising result is that many things have gone faster. In retrospect, I underestimated the indirect costs of lower priority projects,’ he said.
He specified that removing layers of management had resulted in faster efficiency.
The market reacted favorably to the news – shares rose by 5.5 percent after the announcement.
Going forward Meta will have around 60,000 employees.
In his announcement, Zuckerberg pointed to the disastrous downturn of tech stocks as one of the reasons for the scale-back.
‘Last year was a humbling wake-up call. The world economy changed, competitive pressures grew, and our growth slowed considerably.
‘We scaled back budgets, shrunk our real estate footprint, and made the difficult decision to lay off 13% of our workforce.
‘At this point, I think we should prepare ourselves for the possibility that this new economic reality will continue for many years.
‘Higher interest rates lead to the economy running leaner, more geopolitical instability leads to more volatility, and increased regulation leads to slower growth and increased costs of innovation.
‘Given this outlook, we’ll need to operate more efficiently than our previous headcount reduction to ensure success.
‘In the face of this new reality, most companies will scale back their long term vision and investments,’ he said.
Now, Meta will have around 60,000 employees. Company spokesmen did not clarify which region the cuts would apply to, or if they are global. Above, the company’s HQ in Menlo Park
Yesterday, VP Nada Stirratt left her position at the firm after five years
Meta’s problems are in line with a wider round of layoffs in the tech industry, where growth had once seemed invincible.
Microsoft has also launched a third round of layoffs that are part of its previously announced slashing of 10,000 jobs.
Twitter staff were rocked by brutal layoffs and chaos triggered with Elon Musk’s hostile takeover of the company.
Source: Read Full Article