Meta, the parent company of social media platforms Facebook and WhatsApp, is going to lay off 3600 of its employees. Meta has taken this decision under the performance based job cut policy. The company’s CEO Mark Zuckerberg said that this will affect about 5% of the company’s employees. According to the data of September 2024, about 72,000 employees work in Meta. The company can inform the employees working in America about this decision by February 10. Employees working outside America will be informed later. Earlier in 2023, the company had fired about 10,000 people.
The company is also planning to replace
According to a report, Zuckerberg said in a memo sent to employees that the company wants to speed up the performance management process. “I’ve decided to raise the bar on performance management and remove low performers as quickly as possible,” Zuckerberg said in a note shared with an internal message board.
Zuckerberg said that the company has been facing underperformance for the past one year. But now the time has come for big cuts. ‘We usually fire people who do not live up to expectations during a year.’
Along with the layoffs, Meta is also planning to replace people’s roles in 2025 so that it can prepare itself for future development and innovation. In the coming year, the company’s focus will be on sectors like Artificial Intelligence (AI), smart glasses and developing social media platforms.
Layoffs could reach up to 10 percent
The company estimates that it will reach its target of reducing its total staff by 10 percent in the current performance cycle. This includes 5 percent layoffs in 2024. From this, it can be assumed that the company may lay off 5 percent of its existing employees in this cycle. However, the company’s note states that it will pay good wages to the employees while removing them.
Layoffs have been going on continuously in the world’s big tech companies since the year 2022. It started after Elon Musk bought Twitter in April 2022. After that, thousands of people were laid off from Facebook to Google, Microsoft and Amazon.
