Mark Zuckerberg announces to layoff 3600 employees due to low performance at Meta

Meta assured affected employees that they would receive 'generous severance' packages. The decision aligns with Zuckerberg’s ongoing 'Year of Efficiency' initiative, which aims to streamline operations and optimise costs.

Meta to layoff 5 per cent of Workforce in 2024: Meta Platforms Inc. plans to eliminate around 5 per cent of its workforce this year, which amounts to approximately 3,600 employees. As per the internal memo from CEO Mark Zuckerberg, the decision has been focused on swiftly removing the underperforming staff to enhance overall productivity.

Higher standards for performance management

In the memo, Zuckerberg stated, “I’ve decided to raise the bar on performance management and move out low performers faster.” 

Meta’s new approach further involves “extensive performance-based cuts” to meet a 10 per cent non-regrettable attrition goal by the end of the performance cycle, with 5 per cent targeted in 2024 alone.

Generous severance for affected employees

Employees flagged for underperforming during performance reviews will be affected, with Meta promising ‘generous severance’ packages.

The company’s workforce, as of September 2024, was approximately 72,000 employees.

Image Source : FILEMeta layoffs: Mark Zuckerberg announces 3600 layoffs due to low performance

Aligning with the ‘Year of Efficiency’ Initiative

• This move is part of Meta’s ‘Year of Efficiency’ initiative, which was launched to streamline operations and cut costs.
• Over the past year, Meta has already gone through several rounds of layoffs, and it is focusing on restructuring teams to boost profitability.

Controversial policy changes at Meta

The layoffs coincide with Meta’s recent strategic and policy changes:

• Content moderation policy updates: Meta has loosened moderation rules on topics like immigration and transgender rights to promote "free expression," sparking criticism about potential harm to marginalised communities.
• End of fact-checking in the U.S.: The company has discontinued its third-party fact-checking programme, raising concerns about misinformation on its platforms.
• Diversity initiatives cut: Meta has scaled back internal programmes aimed at improving workforce diversity, leading to backlash over a perceived shift away from inclusivity.

What’s ahead?

As Meta continues to lay off the underperforming staff, these acts and policy changes have drawn mixed reactions from employees and external groups.

The company is focused on optimising operations while navigating criticism of its recent strategic decisions.

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