Meta, Facebook’s parent company, has experienced a slowdown in activities due to earlier reported job cuts. According to Financial Times, employees are experiencing a lack of clarity regarding future budgets and headcounts, leading to delayed projects and decisions.
In a rather unpleasant development, Meta’s Chief Business Officer, Marne Levine has announced her departure from Meta which is noteworthy given her extensive leadership roles within the company over the past 13 years. She served as the Vice President of Global Public Policy at Facebook as well.
Levine’s departure brings to mind the departure of Sheryl Sandberg, who also held a high-level leadership role at Facebook before leaving the company. Sandberg was widely credited with helping to turn Facebook into a profitable and influential company, and her departure was seen as a significant loss for the company.
Time will tell how Levine’s departure will impact Meta’s future but the company has also announced that Nicolas Mendelson and Justin Osofsky will be taking expanded roles as Meta’s most senior sales and partnership leaders, which could help to fill the void left by Levine’s departure.
Meta is not alone in job cuts, with other tech giants like Microsoft, Amazon, and Alphabet also reducing their headcount. On the quarterly earnings call, Zuckerberg said, “Next we’re working on flattening our Organization structure and removing some layers in middle management to make decisions faster.” Further job cuts are expected in March.