Not sure what you are implying. They have asked many managers to start coding or leave a while ago, their title is still EM maybe will change to IC now.
I'm implying companies tend to come up with all sorts of great sounding PR fluff to explain layoffs, and that I'm generally skeptical of claims to be making orgs "flatter". If this statement specifically makes someone want to work at Facebook, I think their bullshit meter needs adjusting.
i believe they're already happening. i have one friend at meta who's manager was swapped to an IC role already, and one friend who's an EM that's in the process of swapping to an IC role