Meta (META) CEO Mark Zuckerberg made some recent comments that have tech workers feeling more nervous than ever.
He recently addressed the layoffs and restructuring that many businesses are currently experiencing.
DON'T MISS: Cathie Wood Makes a Big Prediction on the Future of Banks
"Facebook $META CEO Mark Zuckerberg just said he sees the climate of layoffs and restructuring lasting for years," tweeted @StockMKTNewz on March 16.
On March 14, the company announced a huge number of layoffs at Meta, the Facebook owner.
"During an internal meeting with employees, Chief Executive Officer Mark Zuckerberg told employees the economic climate of layoffs and restructuring could last 'many years,'" Bloomberg reported about conversations it had with sources.
Zuckerberg had said the recent layoffs would include 10,000 employees and would also get rid of 5,000 open positions.
"This will be tough and there's no way around that. It will mean saying goodbye to talented and passionate colleagues who have been part of our success," CEO Mark Zuckerberg said in a company-wide message. "They've dedicated themselves to our mission and I'm personally grateful for all their efforts. We will support people in the same ways we have before and treat everyone with the gratitude they deserve."
"A leaner org will execute its highest priorities faster. People will be more productive, and their work will be more fun and fulfilling," Zuckerberg continued. "We will become an even greater magnet for the most talented people. That's why in our year of efficiency, we are focused on canceling projects that are duplicative or lower priority and making every organization as lean as possible."
This repeated a phrase he had used on a conference call Feb. 1, referring to 2023 as Meta's "year of efficiency."
"We closed last year with some difficult layoffs and restructuring some teams. And when we did this, I said clearly that this was the beginning of our focus on efficiency and not the end," he told investors on the call.
"I think that there is going to be some more that we can do to improve our productivity, speed and cost structure. And by working on this over a sustained period, I think we will both build a stronger technology company and become more profitable," he added.
