Go to Article
Excerpt from timesofindia.indiatimes.comFacebook-parent Meta is reportedly looking to cut short some of vice president-level staff as the company continues its cost-cutting measures to balance the books. A report has said that CEO Mark Zuckerberg is continuing efforts to simplify the company’s reporting structure, which includes implementing a stack ranking system and stricter performance evaluations for some high-level executives.
Citing three people with knowledge of the situation, a report by Business Insider says that Meta is looking to reduce the number of VP-level executives.
The “year of efficiency” initiative – in which more than 20,000 Meta employees were laid off – includes implementing stricter performance evaluations for some high-level executives, leading to additional team cuts on top of the layoffs.