Facebook has reportedly undertaken a major organizational restructuring to focus on privacy and communication. The reorganization encompasses design, product, and engineering teams according to sources cited by All Things D.
Unsurprisingly, Facebook is declining to comment on the rumor. If accurate, and it appears to be despite confirmation, the shakeup is likely due to the company's upcoming initial public offering (IPO).
Facebook co-founder and CEO Mark 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 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 the IPO looming, it's possible management has decided it was time to take action.
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. It's unlikely that we'll see Facebook post the memo, but I wouldn't be surprised if it is leaked and confirms the rumor. If you have any more information, please do share it.
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