During Meta’s fourth-quarter earnings call with investors today, CEO Mark Zuckerberg explained why he wants to make this the “year of efficiency.” “I just think we’ve entered somewhat of a phase change for the company,” he said, noting that headcount steadily climbed for nearly two decades, making it “very hard to really crank on efficiency while you’re growing that quickly.
It also hinted that more layoffs could be on the horizon in its press release: “We may incur additional restructuring charges as we progress further in our efficiency efforts.” '“I don’t think you want a management structure that’s just managers managing managers, managing managers, managing managers”' Meta’s core business of serving ads remains challenged, with overall revenue declining by one percent in 2022 compared to 2021.
Source: News Formal (newsformal.com)
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