Meta Chief Business Officer Marne Levine Set To Leave The Company: Report

Meta's Chief Business Officer (CBO) Marne Levine is leaving the social networking giant and parent company of Facebook.

Levine was appointed as Meta's first chief business officer in 2021.

Meta's Chief Business Officer (CBO) Marne Levine is leaving the social networking giant and parent company of Facebook after a 13-year stint, the media has reported. Levine was appointed as Meta's first chief business officer in 2021 and has served in various other executive positions at the company, including the chief operating officer of Instagram, says a report by news agency Reuters.

The Reuters report added that Meta has expanded Nicola Mendelsohn’s role as head of the global business group and named Justin Osofsky as the head of online sales, operations and partnerships, in the wake of Levine’s imminent departure.

This development comes close to the heels of the social networking giant putting middle managers at the company on notice. According to the newsletter Command Line by The Verge's Alex Heath, company CEO Mark Zuckerberg warned managers at a recent all-hands meeting.

"I don't think you want a management structure that's just managers managing managers, managing managers, managing managers, managing the people who are doing the work," the Meta CEO reportedly told them.

The statement appears to be indicating that the company, which will make its quarterly results public this week, may sack more employees. Meta Chief Product Officer Chris Cox has also spoken about the requirement to "flatten" the organisational structure.

To recall, Amazon.com, Meta and Microsoft are among the biggest companies to announce staff reductions recently.

In one of the worst lay-offs ever in the tech industry, Zuckerberg in November sacked more than 11,000 employees -- about 13 per cent of the global workforce -- and extended the hiring freeze through Q1 2023. The Facebook and Instagram parent reported over 87,000 employees (as of September 2022).

In a statement, Zuckerberg said the company is going to take a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending its hiring freeze through Q1. He blamed the macroeconomic downturn, increased competition and ads signal loss for the move, saying it caused "revenue to be much lower than I'd expected".