Facebook moves to 'desk sharing' for in-office employees as layoffs and cost-cutting continues
that, in another effort to reduce spending, Facebook's"real estate footprint" will shrink, meaning offices will close or space will be reduced.
As part of the move, employees who have shifted to working mostly remotely since the start of the pandemic will be"transitioning to desk sharing," Zuckerberg said, meaning they will not have assigned workspace.As part of Facebook's third-quarter earnings disclosure, the company said it would be spending about $2 billion dollars over the next year to break leases early, on multiple office spaces.
In a separate filing with the Securities and Exchange Commission, Facebook said it was reducing its expense outlook to a range of $94 to $100 billion for the whole of 2023, down from a previous plan of $96 to $101 billion. Most of that reduction will come from cuts to capital expenditures, the company added, with the 2023 spending outlook there reduced to $34 to $37 billion, down from $34 to $39 billion.
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