Employees rightly wanted to know why Meta executives face no consequences for their decisions, which have led to thousands of layoffs and counting. Zuckerberg, who has been on maternity leave since giving birth to his third child last month, hosted the conference call for employees who survived another round of layoffs. This took place on Wednesday and focused on Meta’s technical and engineering teams. The CEO confirmed that the company, formerly known as Facebook, laid off 4,000 employees in April, according to two people familiar with the conversation – in addition to the 11,000 employees who were laid off in November. He acknowledged that, as expected and previously noted by workers, the latest cuts have hit management hard, with about 20 percent of managers being laid off or moved to non-management roles.
Mark Zuckerberg answered questions asked in advance by employees during the conference call, similar to the past few weeks’ weekly Q&A sessions moderated by other executives. Many questions centered on the reasons for the recent layoffs, and while Zuckerberg took full responsibility for them, he also explained that his company’s predicament was due to unexpected macroeconomic events such as extreme volatility (volatile/fluctuating), higher interest rates and the Russian invasion in Ukraine is due. Despite the already announced cuts in business areas, which are to be carried out in May, he did not rule out another wave of layoffs in the future.
We are in a different world now, he said in the call, according to those close to him.