Meta CEO Mark Zuckerberg recently appeared on Joe Rogans' podcast, and the two discussed the company's culture shift in a wide-ranging interview.
Facebook's parent company, Meta, announced Tuesday that it plans to cut its workforce, focusing on its worst-performing employees, according to an internal memo to Meta's employees.
“We have decided to raise the bar on performance management and fire poor performers sooner,” Meta CEO Mark Zuckerberg said in a memo. The news was first reported by Bloomberg.
“Typically, we manage people who don't meet expectations over a year, but we will now make broader performance-based cuts during this cycle,” he said.
Meta said it plans to reach 10% of “non-disappointing” job cuts by the end of the current performance cycle. That number includes about 5% non-disappointing layoffs starting in 2024, the memo said.
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In an internal memo to employees, Mehta announced that it would be parting ways with its worst performing 5% of employees. (Photographer: David Paul Morris/Bloomberg via Getty Images/Getty Images)
“This means we aim to retire approximately 5% more of our current employees who have been with the company long enough to qualify for a performance review,” Mehta said in the memo. .
Zuckerberg said Meta will provide “generous severance packages” to employees affected by the layoffs.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| meta | Meta Platforms Co., Ltd. | 608.33 | -7.53 |
-1.22% |
The company plans to hire new employees to fill roles vacated by performance-based downsizing.
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Meta CEO Mark Zuckerberg said in a memo that the company will provide generous severance packages to departing employees. (Reuters/Manuel Orbegoso/Reuters)
Meta's move comes after Zuckerberg announced last week that the social media platform would end its fact-checking service and replace it with a Community Notes-like system similar to the one introduced by Elon Musk at X (formerly Twitter). This was done after the announcement.
The social media giant has cut its workforce several times in recent years.
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In 2022, Meta restructured its workforce, resulting in the elimination of approximately 11,000 jobs.
Mr. Zuckerberg dubbed 2023 the “year of efficiency” at Meta, which cut about 10,000 roles within the company.
Reuters contributed to this report.
