Meta Layoffs: Company to Cut 5% of Workforce

Meta Announces Workforce Reduction

Meta is implementing a reduction in its workforce, impacting approximately 5% of its employees, according to a report from Bloomberg published on Tuesday.

These reductions will be achieved through performance-based terminations. The company intends to subsequently fill vacated positions with new hires, as communicated by CEO Mark Zuckerberg in a message to staff.

Increased Focus on Performance

Zuckerberg stated his decision to elevate performance standards and expedite the removal of underperforming individuals. A more rigorous approach to performance evaluation is being adopted.

“Historically, the process of managing out employees who did not meet expectations spanned a year,” Zuckerberg explained in the internal communication. “However, we are now implementing more substantial, performance-driven cuts within this review cycle.”

Impact and Timeline

With a workforce of roughly 72,000 as of September, a 5% reduction translates to approximately 3,600 positions. Employees affected by these changes will be informed by February 10th.

Recent Layoffs at Meta

This latest round of cuts follows a series of significant workforce reductions at Meta in recent periods. The company previously conducted layoffs in October of the prior year.

In 2023, Meta reduced its staff by 10,000 employees. Prior to that, in 2022, the company implemented layoffs affecting 11,000 individuals.

These actions demonstrate a continued effort to streamline operations and optimize the company’s structure.