As Silicon Valley giants look to reduce payrolls, the middle manager is a clear target. At Meta, CEO Mark Zuckerberg said on the company's earnings call Wednesday that 2023 will be the "Year of Efficiency," and that the company let go of over 11,000 workers last year. At Alphabet, meanwhile, managers' pay will be slashed alongside top executives' in an effort to shore up cash as the company faces intensifying competition and a plunge in demand for personal computers.