Meta Platforms Inc. is asking many of its managers and directors to transition to individual contributor jobs or leave the company as it tries to become more efficient.
Meta Chief Executive Officer Mark Zuckerberg explained during the company’s earnings report this month that he still felt the organization was too slow-moving and bloated. He called 2023 the “Year of Efficiency” and vowed to cut middle-managers and underperforming projects.
Zuckerberg’s plan for a leaner organization helped the share price recover from 2022, which was its worst year ever. It’s up more than 56% so far this year.
