Facebook has confirmed the rumor that it has undertaken a major organizational restructuring that encompasses design, product, and engineering teams, in order to focus on privacy and communication. Palo Alto is now divided into five groups that all report to Facebook co-founder and CEO Mark Zuckerberg.
"We can confirm that in order to streamline the product development process, we have reorganized our technical teams into product groups that report into Mark," a Facebook spokesperson said in a statement. "These groups will be led by Bret Taylor, Chris Cox, Greg Badros, Mike Schroepfer and Sam Lessin."
This is not the first structural reform at the company, but one hasn't happened in quite a while; the social networking giant has been relatively stable for some time. Still, Facebook has faced increased scrutiny this year, and with its initial public offering (IPO) looming, it's possible management has decided it was time to take action.
Zuckerberg has frequently stated, both publicly and privately, that he is against the idea of rushing the company into an IPO. Just last month, Zuckerberg said there is still no expected timeframe for his company's IPO. Most expect the company to go public next year, possibly as soon as Q1 2012 (conflicting rumors argue there will be a delay), with a filing rumored to be coming as soon as this month.
This latest restructuring was reportedly outlined in a memo to staff, telling them the goal was to make the company more nimble and responsive to a rapidly changing competitive environment. If you have seen the memo, please share it by using the Contact link below.
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