Meta is preparing for more job cuts after the company recently laid off 11,000 workers, or 13% of its workforce, according to a report by the Washington Post. The job cuts are expected to happen in the coming months and came after CEO Mark Zuckerberg assured investors that he would be reducing employment in middle management. In order to do this the company consulted with lawyers, financial experts, and executives to shrink the company’s hierarchy by cutting employment in middle management.
Zuckerberg had previously assured Meta workers that he did not “anticipate more layoffs” after the company announced layoffs back in November 2022.
The capitalists will speak out of both sides of their mouth to their workers and investors, but it is clear where their class interests lie. Capitalist production is production for the maximization of profit and executives will do whatever is possible to achieve this objective, including laying off workers. For the workers, employment is precarious and can end at any time due to conditions beyond the control of the workers. It is necessary for workers to learn Marxist-Leninist theory and end the exploitative system of capitalist production which leads to unnecessary suffering for the working class.