Meta Plans to Trim 5% of Workforce as Part of “Efficiency-Oriented Restructuring”
Meta has announced that it would implement “performance-related reductions,” potentially affecting 5% of its workforce.
As per a report by Bloomberg, CEO Mark Zuckerberg conveyed in an internal memo that the firm intends to onboard new individuals in these positions by the year’s end.
“I have made the choice to elevate the standards in performance management and release low performers more swiftly,” Zuckerberg stated.
“We traditionally phase out individuals who do not meet expectations over a yearly cycle, but we will now conduct more substantial performance-related cuts during this period.”
He further mentioned (via CNBC): “We won’t dismiss everyone who fell short of expectations last period if we are hopeful about their future capabilities, and for those we do terminate, we will offer generous severance packages similar to what we’ve provided during previous reductions.”
As of September 2024, Meta employs over 72,000 individuals. Currently, it is projected that 3,600 positions could be at risk.
The reductions will only impact employees who qualify for a performance evaluation.
Those affected in the United States may receive notifications on February 10, while employees located…
