As Facebook hopes to reduce the size of the office and cut expenses, many Facebook employees will no longer be allocated independent office space.
Mark Zuckerberg, CEO of Facebook’s parent company Meta, announced more than 11,000 layoffs on Wednesday, saying in a mass layoff notice to employees that the company’s “real estate space” would shrink to cut expenses, which means offices will be closed or office space will be reduced.
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As part of the move, Zuckerberg said, employees who have largely moved to remote work since the start of the pandemic will “transition to shared desks,” meaning they won’t have designated workspaces.
This is just the beginning. Zuckerberg also said the company will roll out more of these cost-cutting measures in the coming months.
In addition, Facebook also said in a filing with the U.S. Securities and Exchange Commission that it would cut its spending forecast for the full year 2023 to $94 billion to $100 billion, down from the previously planned $96 billion to $101 billion, with most of the cuts coming from capital expenditures.