Meta hired consultancy firm Bain & Co. before Mark Zuckerberg's big 'efficiency' push, foreshadowing layoffs and cost-cutting
, explaining in internal memos that it was seeing slowing revenue growth for the first time. Insiders began to expect layoffs.
Before long, executives were promoting a new culture of"intensity," with memos telling employees they needed to work harder and that perceived"coasting" would no longer be tolerated. Zuckerberg said he expected workers to"get more done with fewer resources" and that certain teams would"shrink." Bi-annual performance reviews got tougher, and quotas were raised for the number of workers managers needed to deem underperforming.
By November, Meta enacted its first-ever mass layoff, letting go of roughly 11,000 workers. This year the company laid off another 10,000 or so employees over three installments, although Bain was not directly involved in the cuts. Zuckerberg dubbed the whole of 2023 Meta's"Year of Efficiency," and recently praised the creation and launch of Threads by
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