Technology

More Job Cuts are Planned at Meta Next Week

Mark Zuckerberg More Job cuts are planned at Meta next week

As per the reports, the layoff phase at Meta (formerly known as Facebook) is still ongoing because more people are expected to lose their jobs next week at the Mark Zuckerberg-owned company. Over 12,000 employees have already been laid go by Meta, and thousands more earned unsatisfactory ratings in their most recent performance reviews, raising the possibility of more layoffs in the near future.

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Meta to meet Financial goals

In an effort to meet its financial goals, Met,a may be considering a second round of layoffs, according to a Bloomberg News article. With its current concentration on the “metaverse,” Meta, a former major player in the advertising sector, needs to cut costs.

Mark Zuckerberg More Job cuts are planned at Meta next week

Source: Google

According to reports, the job losses are unrelated to the company’s ongoing “flattening” project. Directors and vice presidents may be given instructions to seek suitable candidates for the job reduction, according to insiders familiar with the situation. Meta has not yet released any statements in the media about this matter.

According to insiders, The upcoming job layoffs may be done by the end of the next week. Before Chief Executive Officer Mark Zuckerberg leaves on maternity leave for the birth of his third kid, the team behind the layoffs is working feverishly to complete the strategy. According to one insider, he wants to settle everything before leaving.

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Almost 10% of the employees managed by Meta received “meets most” ratings in the past, which is the second-worst rating in the company. The lowest rating, “meets some,” is rarely given by the company. According to a Meta spokesperson, the ratings were created to encourage excellent work and a focus on long-term goals.

Facebook Mark Zuckerberg More Job cuts are planned at Meta next week

Source: Google

The Wall Street Journal reports that senior M,eta officials expect a rise in employee departures as a result of poor ratings in the coming weeks. If not enough employees voluntarily go, the company may have to think about conducting more layoffs. The negative effects of the ratings can lead workers to look for new employment opportunities. Zuckerberg wants 2023 to be the company’s year of efficiency. Meta has been planning to cut its workforce in order to maintain efficiency. The lack of productivity, according to several staff workers, has been caused by supervisors’ failure to plan their workloads.

In order to speed up decision-making, Meta has stated that it is taking steps to restructure its organisational structure. The business is also putting AI tools to use to boost engineering productivity. Meta hasn’t commented on the rumours of possible layoffs, however. The recent performance review at Meta may indicate that there will likely be more job cuts in the future because some employees may decide to leave the company willingly as a result of the poor feedback they received.

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