Meta Plans Layoffs in Preparation for an ‘Intense Year’
Meta will cut roughly 5 percent of its workforce, according to CEO Mark Zuckerberg.
Employees of Facebook’s and Instagram’s parent company were notified of the performance-based layoffs through an internal memo on Tuesday.
“This is going to be an intense year, and I want to make sure we have the best people on our teams. I’ve decided to raise the bar on performance management and move out low performers faster. 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 back filling these roles in 2025,” he continued.
The 5 percent reduction means roughly 3,600 employees will be let go.
He said that affected employees will be given a “generous severance.”
The layoffs follow several major changes for the company.
Last week, Zuckerberg said that Meta would end its third-party fact-checking program and instead use a model similar to Elon Musk’s “Community Notes” on his social media platform X.
As part of the change, Meta will lift restrictions on some mainstream topics and take a more “personalized approach” to political content.
The layoffs will be announced for US-based staff on Feb. 10, and a little later for those outside the country.