Meta CEO Mark Zuckerberg said on Wednesday’s earnings call that he will lay off some middle management as part of a company-wide effort to reduce costs and improve “efficiency.”
Meta will also look to cut programs that don’t perform or are unimportant, and improve the execution of priorities, Zuckerberg said.
The company fired 13 percent of its workforce last year in its first major layoff, consolidating offices and streamlining data centers.
Susan Li, Meta’s chief financial officer, said that this is “just the beginning” and that the company is still “taking a comprehensive look at hiring needs.
Meta today announced its financial results for the fourth quarter and full year of fiscal 2022, which ended December 31. Net income was $4.652 billion, down 55 percent from $10.285 billion in the prior year quarter.
