Meta Platforms is set to lay off approximately 5% of its workforce, targeting low performers, while planning to recruit for the affected roles within the year, reported Bloomberg.
By September 2024, Meta’s workforce stood at approximately 72,000 employees, meaning a 5% cut could impact around 3,600 positions.
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In a note, Meta CEO Mark Zuckerberg said: “I have decided to raise the bar on performance management and move out low-performers faster.
“We typically manage out people who are not meeting expectations over the course of a year,” he said, “but now we are going to do more extensive performance-based cuts during this cycle.”
Meta’s performance review cycle is anticipated to conclude in February 2025, according to an anonymous source familiar with the company’s internal processes.
Amidst these changes, Meta is focusing on artificial intelligence (AI) technology.
Like other tech companies such as Cisco and IBM, Meta is redirecting investments into AI, with billions allocated to AI-related infrastructure.
The company’s expenses in this area are expected to increase in 2025, reported Reuters.
According to the memo, affected US employees will be notified on 10 February, with international notifications to follow later.
The layoffs will target staff eligible for performance reviews.
Zuckerberg assured employees that the company would offer “generous severance” similar to previous reductions.
In 2022, Meta initiated changes that resulted in around 11,000 job cuts. Zuckerberg labelled 2023 as the “Year of Efficiency,” and revealed plans to eliminate approximately 10,000 roles.
In a note to managers, he explained that the performance-based layoffs aim to retain the “strongest talent” while making room to “bring new people in.”
Recently, Meta scrapped its US fact-checking programme, opting for a new community notes programme.
This community-driven system, akin to X’s community notes, aims to empower users to flag potentially misleading posts and provide context through diverse perspectives.
