Facebook’s parent company is flattening the organisation, cancelling lower priority projects and slowing hiring, chief executive officer Mark Zuckerberg said.
. The world’s largest social-networking company in November already laid off 11,000 people, or 13 per cent of its staff.
The company expects to announce restructurings and layoffs in tech groups in late April, and business groups in late May, according to the statement. With less hiring overall, Mr Zuckerberg said he was also reducing the size of the recruiting team. As part of its efficiency plan, Meta is focusing on returning to a “more optimal ratio of engineers to other roles”, Mr Zuckerberg said. The company will invest in tools, such as those in artificial intelligence, to help engineers write code faster, to make it “most effective over many years, not just this year”.
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