#tech Archives ~ My Mobile India

Highlights Meta plans to lay off 3,600 employees as part of CEO Mark Zuckerberg's push for performance-based cuts. Employees with lower performance ratings will be automatically added to the termination list. The aim is to do a 10% non-regrettable attrition rate combining cuts from this year and last year. Affected employees will receive generous severance packages. Meta plans to backfill positions in 2025. Mark Zuckerberg announces 5% job cuts. (Image credit - Unknown) Meta is set to lay off 3,600 employees, which is about 5% of its workforce, as part of CEO Mark Zuckerberg's drive to raise the bar on performance management. In an internal memo, Zuckerberg explained that the company would be taking a more aggressive approach to addressing underperformance. “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,” he stated. The layoffs are scheduled to begin on February 10 for U.S.-based employees. Zuckerberg described 2024 as an intense year for Meta highlighting its focus on developing key technologies like AI, augmented reality glasses and the future of social media platforms. Hillary Champion, Meta’s director of people development growth programs, elaborated in a separate memo that employees who received “Met Some” or “Did Not Meet” performance ratings would be “automatically added to the performance termination list.” Meta aims to achieve 10% non-regrettable attrition combining 5% from last year’s cuts with another 5% this year. The announcement has raised concerns among Meta employees particularly about the accuracy of the performance review system. One employee criticised the process on an internal message board saying it was only “marginally better than monkeys throwing darts” in reflecting actual performance and contributions. Some employees also pointed out the challenges of maintaining team morale during such turbulent times. One worker wrote, “Teams aren’t exactly strong when morale is low and this is already a pretty rough ride over the last week. The layoffs follow recent internal shifts at Meta including the rollback of diversity, equity and inclusion initiatives as well as the disbanding of its third-party fact-checking program. According to Champion, affected employees will receive “generous severance packages.” Meta also plans to backfill the terminated positions in 2025. These cuts come after Meta previously laid off 21,000 employees between 2022 and 2023. FAQs Q1. How many employees will Meta lay off and why? Answer. Meta is set to lay off 3,600 employees, equivalent to 5% of its workforce, as part of CEO Mark Zuckerberg's drive to "raise the bar on performance management." Q2. What criteria is Meta using for the layoffs? Answer. Employees who received "Met Some" or "Did Not Meet" performance ratings will be "automatically added to the performance termination list," aiming to achieve 10% non-regrettable attrition. Q3. What will happen to affected employees? Answer. Affected employees will receive "generous severance packages." Meta also plans to backfill the terminated positions in 2025. Read More: Facebook Founder Mark Zuckerberg Criticises Apple for Stagnation and High App Developer Fees Read More: Meta Fined $101.5M Over Facebook and Instagram Password Breach Involving Up to 600 Million Accounts