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Meta Latest Company To Join Lays Off Spree; Cuts 60 Jobs
Insider sources reveal that Meta has let go of employees in TPM roles throughout the current week, prompting those affected to make crucial decisions.
New Delhi: In recent developments, Meta, the parent company of Facebook, has reportedly initiated a round of layoffs, with 60 employees affected, particularly those in Technical Program Manager (TPM) roles. The restructuring decision signals a phase-out of TPM positions within the organization.
Insider sources reveal that Meta has let go of employees in TPM roles throughout the current week, prompting those affected to make crucial decisions. (Also Read: ChatGPT Soon Coming To Cars Near You; Check How Will It Transform Your Ride?)
Employees have the option to reapply and undergo a new interview process to secure positions as program managers. However, for those not selected for the new roles, the conclusion of their employment is anticipated in March. (Also Read: Decoding Budget Terms: What Is Direct Tax? Definition, Types, And More - Check Here)
While Meta has not officially commented on the layoffs, a former Instagram employee took to LinkedIn to share insights into the anticipated changes in TPM roles. The post hinted at individuals being required to "re-interview for PM roles" or explore opportunities as product managers.
The decision to eliminate TPM positions is reported to align with Meta CEO Mark Zuckerberg's push for "efficiency" in the previous year.
The company aimed to streamline management layers, resulting in various layoffs, a reduction in management ranks, and a slowdown in hiring and promotions. Despite the downsizing, Meta has been in the process of rehiring some of the previously laid-off workers.
The move to eliminate TPM roles is part of Meta's broader restructuring strategy known as "the flattening," implemented last year. This involved the elimination of various management positions, offering affected employees the option to transition into non-management roles.
During a meeting with employees, CEO Mark Zuckerberg did not rule out the possibility of further job cuts, emphasizing the company's goal to revert to its pre-2020 headcount levels.
As Meta employees gradually returned to the office, speculation grew regarding potential future layoffs. In the past fall, a smaller layoff impacted a team within Reality Labs.
The tech company had previously cut 11,000 jobs at the end of 2022, and an additional 10,000 workers were let go last year as part of cost-saving measures.