Over the previous few years, the corporation has eliminated more than 20,000 positions from its workforce.
Bloomberg reports that Meta is making preparations for even more layoffs than they have already implemented. The company's chief executive officer, Mark Zuckerberg, stated in a memo that he intends to lay off approximately five percent of its "low-performers.""I've decided to raise the bar on performance management and move out low-performers faster," Zuckerberg stated in the memo. "I know this will be a challenge for me." "We typically manage out employees who aren't meeting expectations over the course of a year, but now we are going to do more extensive performance-based cuts during this cycle," the statement reads.
Taking into account the possibility of attrition, this could lead to a reduction of ten percent in the number of employees at Meta. According to Bloomberg, the future pink slips would be directed toward employees "who have been with the company for a sufficient amount of time to receive a performance rating."
It is possible that some 7,000 Meta employees may leave the company in the near future due to the combination of increased layoffs and attrition. This comes after a termination wave that started in the latter half of 2022 and finally affected more than 20,000 employees altogether. In addition, sixty technical program managers were terminated from their positions earlier this month.
"A more efficient organization will be able to carry out its most important tasks more quickly. In the year 2024, Zuckerberg made the following statement: "People will be more productive, and their work will be happier and more fulfilling." Having to live in continual fear of getting fired is the epitome of what it means to be "fun and fulfilling."
To this point, Meta has had an extraordinary year. Even though we are only halfway through the month of January, the Zuck has already put an end to third-party fact checking across all Meta platforms, added Dana White, CEO of the Ultimate Fighting Championship, to the board of Meta, and traveled to Mar-a-lago to make a kneeling ceremony. Additionally, the firm modified its "Hateful Content" policy in order to make it more secure for homophobes, and it was revealed that Instagram had been shadowbanning certain hashtags that are commonly used by LGBTQ people.
