In a strategic step towards more rigid performance management, Meta plans to lessen its workforce by a significant 5%, reports Bloomberg. This termination strategy, set to affect approximately 3600 employees, was revealed in an internal memo from CEO Mark Zuckerberg.
Zuckerberg in his message stated, “We’re effecting a more pro-active approach in dealing with underperformers. Previously, we managed people who failed to match expectations gradually over a year. Now, we’re implementing broader performance-based dismissals within this operational cycle.”
With Meta’s workforce standing at about 72,000 as of September, the impact of this 5% cut will be substantial. Employees earmarked for this cut will receive notifications by February 10th.
This downsizing decision comes on the backfoot of Meta’s recent spate of layoffs. Earlier, the tech giant carried out job cuts in October, and in 2023, approximately 10,000 employees were let go. A year before that, the company meted out similar action against 11,000 employees.
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