The upcoming job cuts are part of Meta’s initiative to achieve a 10% “non-regrettable” attrition rate by the end of the current performance cycle, according to the memo
Meta is set to lay off around 3,600 employees deemed low performers and intends to bring in new hires, according to an internal memo reported by Bloomberg. This decision, made by CEO Mark Zuckerberg, will affect nearly five percent of the company’s workforce. As of September, Meta employed approximately 72,400 people.
Mark Zuckerberg said, “I’ve decided to raise the bar on performance management and move out low-performers faster.” Performance-based cuts are intended to ensure that the company has the “strongest talent” and is able to “bring new people in”, he said.
Such layoffs are a typical strategy among major U.S. corporations and follow Microsoft’s recent announcement of similar job cuts affecting less than one percent of its workforce.
The upcoming job cuts are part of Meta’s initiative to achieve a 10% “non-regrettable” attrition rate by the end of the current performance cycle, according to the memo. Employees who have been with Meta long enough to undergo a performance review and are classified as underperformers will be affected. The company has also promised that those impacted will receive “generous severance.”
Meta has revamped its policies and
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