Meta Platforms is said to be eliminating more vice president roles among headcount cutbacks. The enterprise seeks to slash its cadre of VPs from 300 it had last year down to approximately 250, according to Seeking Alpha on Wednesday (June 12). This news arises after thousands of job cuts were announced by Meta over the past two years.
• Meta Reduces Number of VP Positions from 300 to 250
• Meta Announces Reduction of VP Roles from 300 to 250
• Meta to Decrease VP Positions from 300 to 250
• Meta to Slash VP Count from 300 to 250
• Meta to Lower VP Roles from 300 to 250
After that, the company announced that it would let 10,000 other employee’s lay off in March 2023, following a cull of 11,000 jobs in November 2022. The company also said at the time that it would, for the time being, stop hiring for another 5,000 positions that were vacant.
The Nov. 2022 round of 11,000 layoffs represented 13% of Meta’s then-current workforce, and it was Meta’s first company-wide layoff effort. Those cuts accompany an assertion from Meta CEO Mark Zuckerberg that the organization had seen an unwinding of web development during the pandemic.
Next up was the March 2023 round of layoffs, a restructuring effort to help the company streamline some of its organization, kill off lower priority projects, slow staffing, and cut back on recruiting team size. Facebook would be an even stronger tech company for this round of job cuts, Zuckerberg said when announcing Meta’s principles.
Those pillars include slashing through layers of management to give 10 direct reports to each manager (or hand out pink slips), canceling projects that are redundant or have a low value, making every organization smaller, building the right ratio of engineers (those that build products and services) versus other roles, from HR to rent-a-vice presidents, and investing in AI taking a long, hard look at whether a distributed workforce is working and is going to work, period.
Meta said in its latest earnings report that it expects to spend $35 billion to $40 billion by the end of 2024 on AI and the division developing the metaverse, Reality Labs.
That figure was $5 billion higher than it had previously estimated the cost of developing new AI products for consumers, developers, enterprises, and hardware makers. In May, Mark created a product advisory council to guide the company’s AI and technology struggles.
