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originalPublished in Hong Kong Economic Times Financial NewsEJ Tech Innovation Lab“
Meta had about 300 vice presidents last year, a significant increase from about 180 in previous years.News reportIn order to improve the company’s operating efficiency, Meta CEO Mark Zuckerberg plans to streamline the company’s size and reduce the number of vice president positions to 250. The goal is to reduce middle and senior management and increase grassroots employees to avoid the company’s structure becoming “top-heavy”.
Push for delayed promotion and peers to rate each other
German data company StatistaPoint outBy the end of 2023, Meta will have 67,317 employees, down from 86,482 at the end of 2022. Zuckerberg declared last year that he no longer wanted a company where “managers manage managers,” so he designated 2023 as the “year of efficiency” and implemented a flat structure. Last year, Meta also implemented what was internally called “delayed promotion,” where promoted employees usually have their titles changed after working in their new positions for a year.
Meta has a formal performance evaluation for vice presidents every year, and calibrations every six months to review mid-term performance. In addition, senior executives must accept stack rankings, where peers rate each other to assess who performs better. Sources say that about 10% to 12.5% of team members are classified as having low performance and are usually required to participate in a performance improvement plan (PIP). If there is no improvement, they are likely to be fired.
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