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Meta CFO Susan Li says some projects and teams will 'wind down'

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Meta's CFO Susan Li says some projects and teams will 'wind down' as part of ongoing efficiency push

"This is really hard," Li said."These are all great products and great ideas, but they aren't necessarily the highest priority place for us to invest now. We're gonna be in an ongoing reevaluation and reprioritization process."

Overall, Li said that such changes, including the"streamlining of management layers," will"translate into further cost savings" for the year. Meta already cut its cost outlook for the year by $1 billion, according to its fourth-quarter financial results. Are you a Meta employee or someone else with insight to share? Contact Kali Hays at khays@insider.com, on secure messaging appSign up for notifications from Insider! Stay up to date with what you want to know.

 

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