Meta Platforms Inc. is headed for its biggest single-day gain in almost a decade after Chief Executive Officer Mark Zuckerberg laid out plans to make the social media giant leaner, more efficient and more decisive.
Zuckerberg, who has spent the past year promising a faraway future in a digital world called the metaverse, was more focused in a call with investors Wednesday on immediate problems, such as sending users the most relevant videos at the right time, and finally making significant revenue from messaging products. He called 2023 the “Year of Efficiency.”
“We’re working on flattening our org structure and removing some layers of middle management to make decisions faster, as well as deploying AI tools to help our engineers be more productive,” Zuckerberg said on the call. “There’s going to be some more that we can do to improve our productivity, speed and cost structure.”
