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As growth stalls and competition intensifies, Facebook parent Meta has begun quietly cutting staff by reorganizing departments, while giving ‘reorganized’ employees a narrow window to apply for other roles within the company, according to the Wall Street Journal , citing current and former managers familiar with the matter. By shuffling people around, the company achieves staffing cuts “while forestalling the mass issuance of pink slips.”
The game of musical chairs is thought to be a prelude to deeper cuts, as Meta looks to trim costs by at least 10% over the next few months according to people familiar with the company’s plans – which will also include savings from cuts to overhead and consulting budgets, but to a much lesser degree than reducing headcount .
“We’ve been public about the need for our teams to shift to meet these challenges,” said Meta spokesman Tracy Clayton, adding that providing displaced employees with opportunities to apply for new jobs is a means of retaining talent that the company might otherwise lose. Among some Meta employees, the process of reapplying for jobs within a limited window internally is known as a sort of human-resources purgatory they call the “30 Day List.”
Meta, as […]
Read the whole story at www.zerohedge.com
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