Meta plans to reduce its workforce by approximately 5%, targeting the company's lowest-performing employees, according to a report on Tuesday. As of September, Meta employed approximately 72,000 people, meaning a 5% reduction could impact around 3,600 positions.
In a memo to employees shared on Meta’s internal forum, Workplace, CEO Mark Zuckerberg announced plans to "raise the bar" on performance management. Employees getting the axe will be notified next month or later for those outside the U.S. While not all staff who fell short of expectations last quarter will be laid off, Zuckerberg assured that those who are will receive “generous severance.”
“I’ve decided to raise the bar on performance management and move out low-performers faster,” Zuckerberg says in the memo. “We typically manage out people who aren’t meeting expectations over the course of a year, but now we’re going to do more extensive performance – based cuts during this cycle – with the intention of backfilling these roles in 2025.”
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“Meta is working on building some of the most important technologies in the world – AI, glasses as the next computing platform, and the future of social media,” Zuckerberg wrote. “This is going to be an intense year, and I want to make sure we have the best people on our teams.”
As part of these efforts, Meta aims to achieve 10% "non-regrettable" attrition by the end of the current performance cycle, including approximately 5% carried over from 2024, Bloomberg reported. A spokesperson for Meta confirmed the plans.