Mark Zuckerberg explains reasons behind current tech company layoffs

Mark Zuckerberg recently talked about why tech companies are still laying off people, and it turns out it’s not just about fixing past mistakes. Initially, layoffs happened because companies hired too many people during the e-commerce boom. But now, it’s not just about fixing that. Companies are realizing that being smaller actually has some perks. The Meta CEO shared his thoughts in the recent episode of Morning Brew Daily’s podcast, published on Friday.

Zuckerberg thinks that being leaner—having fewer people—can make a company work better. Even though letting go of talented folks was tough during the first round of layoffs, he believes that being more efficient is helping companies get back on track.