Even while executives are conducting mass layoffs and downsizing their firm's physical infrastructure, players like Amazon and Apple are keeping up spending, so long as it drives customers to their platforms.
It’s not cost-cutting, it’s efficiency. That’s the idea Meta CEO Mark Zuckerberg
aimed to sell to investors Feb. 1, when he outlined 2023 as the “Year of Efficiency” for the parent company of Facebook and Instagram. It came after Meta had laid off 13 percent of its workforce and downsized its office space in light of the tough macroeconomic environment and overhiring, alongside other company-specific factors like its pricey foray into the metaverse.
Rather than view that as a negative, Zuckerberg positioned it as more of a rallying cry, even while cautioning that there would be more “efficiency” to come. “A lot of the time, when people talk about efficiency, there is a lot of focus on prioritization and which big things can you cut.
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