Meta Platforms is preparing to lay off 5% of its staff. According to an internal memo sent to all employees, the company will remove its staff based on performance and also plans to recruit people for new roles this year. As of September, 72,000 people were working in Meta, so 5% layoff would mean 3,600 jobs.
The company’s Chief Executive Officer Mark Zuckerberg said, ‘I have decided to raise the bar on performer management and remove underperforming staff. We generally prepare to remove those who are not able to meet the expectations within a certain period of time. During this cycle, we are preparing for more large-scale layoffs based on performance.
Zuckerberg had also announced the removal of 10,000 positions while declaring 2023 as the ‘Year of Efficiency’ for the company. However, he clarified in his latest memo that the purpose of performance-based staff reduction is to improve Meta’s performance management process. Also, better talent can be recruited for those roles where the standard of work is not satisfactory at present.
In the same note, the CEO of Facebook’s parent company has expressed hope that the current year is going to be ‘very active’ for the company, in which the focus will be on the future of AI, smart glasses and social media.