According to an internal memo sent to all employees, Meta Platforms Inc. is cutting about 5% of its employees through performance-based termination and plans to hire new staff to fill its role.
As of September, META employs about 72,000 employees, so a 5% reduction could affect about 3,600 jobs. “I decided to raise the bar for performance management and move out low performance faster,” CEO Mark Zuckerberg said in a comment posted on the internal message board.
“We usually manage people who don’t meet expectations in a year, but now we’re going to make a wider performance-based cut in this cycle,” he said. Meta’s performance cycle is expected to be At the end of February, he was reluctant to determine the situation of discussing internal corporate procedures.
The memorandum shows that affected workers in the United States are expected to be notified on February 10, while workers based in other countries will be notified on a future date. Termination only includes employees who have worked in the company for a long enough time to be eligible for a performance review. Zuckerberg told employees that the company would align with past cuts.
Meta shares fell 2.1% on Tuesday at 1:39 p.m. in New York, continuing to drop on Monday.
Zuckerberg announced the company’s “Efficiency Year” in 2023 and announced plans to eliminate 10,000 positions. Now, he took a different tone. He said in a case to the manager that performance-based cuts are designed to ensure that the company has “the strongest talent” and can “bring new friends”.
Overall, Meta expects its workforce to fall by 10% by the end of the current performance cycle. According to information to managers, the total included a 5% decrease last year.
California-based Menlo Park companies, including Facebook, Instagram and WhatsApp, will make negative decisions for each organization based on the decline last year.
Zuckerberg announced a series of changes last week, including disbanding U.S.-based fact-checks on its platform, ending a lot of work on diversity and inclusion, and changing its “hatred behavior” policy to bring around language Make greater flexibility to discuss the language of immigration. , women, trans and non-binary people. The move coincides with Zuckerberg’s efforts to improve the relationship between President-elect Donald Trump, who plans to attend his inauguration.
In annotation to staff, Zuckerberg said he will position the company as he expects to be a “hard year” focusing on the future of artificial intelligence (AI), smart glasses and social media.
Meta is not alone in performing performance-based work at the beginning of the new year. Last week, Business Insider reported that Microsoft Corp. would lay off employees targeting underperforming employees.
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