Meta Plans Layoffs Across Management

Meta ($META@US) is planning a new round of layoffs in management-level positions in a reorganization that will take place in the coming months. The plans would demote managers to lower-level roles without direct reports, while other managers may end up supervising more people on their team. Some inside Meta expect employees whose jobs have been converted to leave the company, reducing the workforce. The tech conglomerate also plans to cut projects and jobs in divisions across the company. In November, Meta cut 11,000 jobs or 13 percent of its workforce. Earlier this month, Zuckerberg proclaimed 2023 the “year of efficiency,” promising investors he would reduce middle management and expedite decision-making processes.