Mark Zuckerberg recently shared an update on Meta and declared 2023 as the “Year of Efficiency” in light of the company having laid off around 21,000 people over the past 6 months. He revealed that corporate restructuring plans are being devised to flatten Meta’s organization, cancel out lower-priority projects, and reduce recruitment rates. Additionally, recruiting team members will be informed tomorrow if they are affected by the layoffs.

The CEO also mentioned that Meta is aiming for a flatter structure with fewer layers of management; these changes will help the organization move faster and execute its highest priorities quickly. Tuesday’s job cuts primarily targeted managers and it is estimated that 10,000 jobs and 5,000 open roles will be eliminated. He emphasized that this move is intended to streamline the company and create a more lean environment while also improving business performance towards their long-term vision.

“Meta is building the future of human connection, and today I want to share some updates on our Year of Efficiency that will help us do that,” he wrote.

“Here’s the timeline you should expect: over the next couple of months, [organization] leaders will announce restructuring plans focused on flattening our [organizations], canceling lower priority projects, and reducing our hiring rates,” he said in the post. “With less hiring, I’ve made the difficult decision to further reduce the size of our recruiting team. We will let recruiting team members know tomorrow whether they’re impacted.”

But get this…Zuckerberg thinks that these layoffs are going to make work “more fun”.

“People will be more productive, and their work will be more fun and fulfilling. We will become an even greater magnet for the most talented people. That’s why in our Year of Efficiency, we are focused on canceling projects that are duplicative or lower priority and making every organization as lean as possible.”