Meta layoffs: Tech giant layoffs off thousands on performance criterion
Meta, the parent company of Facebook and Instagram, is planning to lay off approximately 5% of its 72,400-strong staff, according to an internal memo first reported by Bloomberg. This decision is based on the performance parameter.
CEO Mark Zuckerberg described the layoffs as a strategy to “raise the bar on performance management.” Employees in the US shall be notified of their status by February 10. International employees can expect a notification later.
Nonetheless, Zuckerberg noted that some employees found underperforming in the last period are likely to be retained if there is optimism about their future contributions. The employees set to be laid off shall get “generous severance”, he added.
This is not Meta’s first round of job cuts in recent years. Some years back, the company laid off more than 11,000 employees and cut an additional 10,000 jobs in subsequent months. Keep an eye out for more information.
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