Facebook parent company Meta Platforms (NASDAQ:META) is preparing for a new round of layoffs, commissioning human resources, lawyers, financial experts and executives to develop plans to shrink the company’s hierarchy, a restructuring and layoffs that could affect thousands of employees. According to a person familiar with the matter, who spoke on condition of anonymity, Meta plans to push some leaders to lower-level positions without direct reporting, flattening the hierarchy of management between Meta CEO Zuckerberg and the company’s interns. As teams grow in size, other managers may end up managing more employees. Some within Meta expect that those employees who are switched jobs will eventually quit, resulting in a reduction in the company’s headcount. (Washington Post)