BUSINESS / Companies

As layoff wave sweeps the tech sector, a clear target emerges: middle managers

A Google sign illuminated as members of the Alphabet Workers Union (CWA) hold a rally outside the Google offic,e in response to recent layoffs, in New York on Feb. 2. Google's parent company, Alphabet, announced in January it will cut about 12,000 jobs globally, citing a changing economic reality. | AFP-JIJI

By Julia Love and Jo Constantz
Bloomberg

Feb 7, 2023

As Meta Platforms, Alphabet and other Silicon Valley behemoths look to lighten payrolls after years of feverish hiring, a clear target has emerged: the middle manager.

Meta will be cutting some layers of management, Chief Executive Officer Mark Zuckerberg said on the company’s earnings call Wednesday, naming 2023 its "Year of Efficiency.”

The company let go of over 11,000 workers last year, 13% of its workforce, in its first major layoff. This is "just the beginning,” said Susan Li, the company’s chief financial officer.

As layoff wave sweeps the tech sector, a clear target emerges: middle managers

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