Mark Zuckerberg is planning another round of layoffs, and it will likely decimate remaining morale at Meta
"These companies want to be a part of the headlines. They want to show that they're being fiscally prudent and frugal and that they, along with their peers, are making these tough decisions and cutting costs," Sumpter said.
Cutting a second time in short succession likely stems from the same impulse, she told Insider. But as a strategy, it's likely to have the opposite effect and leave investors perplexed as to why leaders miscalculated.One bout of layoffs, according to data from Crunchbase. Last year, around 9% of the 433 tech companies it tracked laid off workers more than once. , said Kerry Sulkowicz, the managing principal of the Boswell Group, which advises CEOs and boards on people and culture issues.
"When a CEO does this, it's important to communicate that this is a difficult decision, and to the extent possible, to do it one fell swoop." One bout of layoffs can leave a dent in employee morale; a second round can be devastating. Surviving employees often mourn the loss of their colleagues and feel guilty they were spared.
They're also likely to feel extra nervous about their job security: Instead of focusing on the work at hand, they're looking over their shoulders, which is not good for their productivity or sanity, said Sulkowicz.Sign up for notifications from Insider! Stay up to date with what you want to know.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meta to Lay Off 10,000 More Employees, Mark Zuckerberg SaysMeta, parent company of Facebook and Instagram, is pink-slipping another 10,000 employees, coming on the heels of laying off 11,000 last fall. Mark Zuckerberg, Meta’s co-founder and CEO, anno…
Read more »
Meta to Lay Off 10,000 More Staffers As Part of Mark Zuckerberg’s “Year of Efficiency”The layoffs will hit the recruiting, tech and business teams at the Facebook and Instagram parent company.
Read more »
Mark Zuckerberg warns about economy as Meta lays off 10,000 employeesThe additional layoffs come after the company announced 11,000 layoffs in November.
Read more »
Meta announces 10,000 more layoffsMeta CEO Mark Zuckerberg announced 10,000 additional layoffs on Tuesday, impacting tech, business, and recruiting employees.
Read more »
Zuckerberg Confirms Meta's Cutting 10,000 Staff by Year's EndMeta’s Mark Zuckerberg told Meta employees he also plans to close another 5,000 open positions during this expanded ‘year of efficiency.’
Read more »
Meta to block access to news on Facebook, Instagram if Online News Act adoptedMeta spokesperson Lisa Laventure says the company made the decision because the act will require it to pay publishers for links or content it doesn’t post. cdnpoli
Read more »