Misery at Meta As Employees Reportedly 'Sit Around Doing Nothing' So far Meta CEO Mark Zuckerberg's "year of efficiency" has led to demoralized staffers, according to reports.

By Dan Bova

entrepreneur daily
Bloomberg | Getty Images

It's misery at Meta.

According to the New York Post, cost-cutting measures and mass layoffs have left employees feeling unliked and demotivated.

A Financial Times report reveals that the malaise is being felt by workers in the trenches all the way up to senior management. What was promised to be a "year of efficiency" by CEO Mark Zuckerberg has been a year of employees sitting on their hands.

Project budget approvals have been delayed, leading to a halt in work, according to FT. The outlet quoted insiders who say "zero work" is getting done, including its vital metaverse and advertising initiatives.

"Honestly, it's still a mess," one Meta employee said. "The year of efficiency is kicking off with a bunch of people getting paid to do nothing."

Related: Meta Stock Jumps 1 Percent After False Report

Last year, Meta's stock fell by 72% as its metaverse push landed with a virtual thud, losing an estimated $700 billion. After laying off around 11,000 employees, Zuckerberg admitted to staffers that Meta over-invested after the pandemic led to a temporary surge in online activity and told employees, "I got this wrong, and I take responsibility for that."

Zuck and the Meta gang are not alone. Google, Amazon, Twitter, and Microsoft are among the other tech giants forced to lay off thousands in 2022.

Related: 23 Weird Things You Didn't Know About Mark Zuckerberg

On an earnings call last week, Zuckerberg said he would restructure the company to find efficiencies. "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, adding that he will be quick to shut down projects that are not performing or no longer seen as crucial.

That oughta boost morale.

Dan Bova

Entrepreneur Staff

VP of Special Projects

Dan Bova is the VP of Special Projects at Entrepreneur.com. He previously worked at Jimmy Kimmel Live, Maxim and Spy magazine. Check out his latest humor books for kids, including Wendell the Werewolf, Road & Track Crew's Big & Fast Cars, and The Big Little Book of Awesome Stuff.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

This Gen Zer's Stylish Side Hustle Earns About $20,000 a Month and Paid Off His Parents' $200,000 Debt: 'I Enjoy the Hands-Off Nature'

Ray Cao went from working as a barista for $8 an hour to being a successful seller on online marketplace StockX.

Devices

This Grade-A Refurbished 2-in-1 Chromebook Is Just $100 This Week Only

Save significantly on this dynamic second generation device with 4GB of RAM and a near 12-inch screen.

Marketing

It's Time to Clean Up Your Act — How to Manage Your Reputation in the Era of AI

Question: Where's the best place to hide a dead body (or a damaging article about your brand)? Answer: On page 2 of Google search — well, until now.

Money & Finance

5 Ways to Make Money Online in 2024

Here are five great ways to capitalize on the internet's vast potential for generating income in 2024.

Living

Want to Succeed? Learn to Say 'No'

As a first-year founder and entrepreneur, saying "yes" to every opportunity can hurt your chance of survival.