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Facebook Parent Meta Platforms To Lay Off 5% Of Staff; CEO Mark Zuckerberg Warns Of “Intense” Year Ahead
Deadline· 2025-01-14 21:41
Layoffs and Workforce Reduction - Meta plans to lay off approximately 5% of its workforce, which translates to around 3,600 jobs based on the company's total workforce of roughly 72,000 employees [3] - The layoffs are part of a broader performance management strategy, with the company aiming to move out low-performers faster and raise the bar on performance expectations [3] - This follows deeper cuts in recent years, including a 13% reduction in staff at the end of 2022 and the declaration of 2023 as the company's "year of efficiency" [5] Strategic Focus and Challenges - The year ahead is predicted to be "intense" as the company focuses on AI, smart glasses, and its core social media business [1] - Meta is undergoing significant changes, including ending its fact-checking efforts and updating its policy on "hateful conduct," which now grades discussions on immigrants, women, and transgender and nonbinary people on a more nuanced curve [2] Leadership and Governance - Meta recently named UFC head Dana White to its board of directors, signaling a shift in leadership dynamics [2] - The company's moves are seen as efforts to align with political interests, particularly in currying favor with President-elect Donald Trump, whose inauguration Meta's CEO plans to attend [4]
Meta to lay off 3,600 employees in performance-based cuts
Techxplore· 2025-01-14 21:12
This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: This photo illustration created in January 2025 in Germany, shows the media giant Meta's logo displayed on a smartphone. Meta plans to dismiss approximately 3,600 employees identified as low performers and replace them with new hires, according to an internal memo reported by Bloomberg on Tuesday. The company, which owns Faceb ...
Meta could make performance-based job cuts an annual practice, leaked memo suggests
Business Insider· 2025-01-14 20:48
Meta's Performance-Based Job Cuts Strategy - Meta is implementing a strategy to increase non-regrettable attrition and remove the lowest performers to raise employee performance standards [1][2] - The company plans to finalize workforce cuts of about 5% by February 10 for US-based employees, with international notifications occurring later [1] - Meta may make performance-based job cuts an annual occurrence, as indicated in an internal FAQ document [4] Employee Compensation and Benefits - Employees impacted by performance reviews will still receive their February 15, 2025 vesting, any due dividends, and eligible bonuses [3] - Location will not influence employee ratings or termination risk, ensuring fairness in the review process [3] Communication and Transparency - The internal FAQ document, shared by Hillary Champion, Meta's director of people development growth programs, directly addresses the possibility of annual performance-related layoffs [4] - Meta is committed to a culture of high performance and is transparent about its plans to move faster in removing low performers [1]
Meta cutting 5% of workforce based on performance
Fox Business· 2025-01-14 20:21
Facebook parent Meta on Tuesday announced that it's planning to cut back its workforce with the reductions focused on the lowest performers, according to an internal memo sent to Meta employees. "I've decided to raise the bar on performance management and move out low-performers faster," Meta CEO Mark Zuckerberg said in the memo. The news was first reported by Bloomberg."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 perform ...
Instagram owner Meta to axe 3,600 lowest-performing staff ahead of 'intense year'
Proactiveinvestors NA· 2025-01-14 20:11
About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...
Meta to cut roughly 5% of its workforce based on performance
TechCrunch· 2025-01-14 17:58
In Brief Meta is reducing its workforce by about 5% through performance-based terminations, Bloomberg reported on Tuesday. The company plans to hire new people to fill the roles, CEO Mark Zuckerberg said in an internal memo to staff.“I’ve decided to raise the bar on performance management and move out low-performers faster,” Zuckerberg said in the note. “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 d ...
Meta to cut 5% of staff as Mark Zuckerberg targets ‘low performers': memo
New York Post· 2025-01-14 17:27
Meta is planning to slash roughly 5% of its staff this year in a move aimed at weeding out under-performers, CEO Mark Zuckerberg revealed on Tuesday.In a memo to employees on Meta’s internal message board, Zuckerberg indicated that the company would hire new workers this year to replace the ousted employees. The Facebook and Instagram boss — who has drawn backlash for scrapping fact-checking on his social media networks in a move seen as an attempt to ingratiate the company with the incoming Trump administr ...
Meta targeting lowest-performing employees in latest round of layoffs
CNBC· 2025-01-14 16:45
Meta CEO Mark Zuckerberg makes a keynote speech during the Meta Connect annual event, at the company's headquarters in Menlo Park, California, U.S. September 25, 2024.Meta is set to cut about 5% of its workforce, focusing on the company's lowest-performing workers, CNBC confirmed Tuesday.Bloomberg was first to report the cuts, citing an internal memo."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 duri ...
Meta plans to make performance-based cuts — read Mark Zuckerberg's memo
Business Insider· 2025-01-14 15:36
Meta is planning to make performance-based cuts to its workforce, Business Insider has learned.Mark Zuckerberg has told employees he "decided to raise the bar on performance management" and act quickly to "move out low-performers," according to an internal memo seen by BI.AD The Meta chief wrote in a post on Workplace, the company's internal forum, that the company will be doing "more extensive performance-based cuts" during this year's peformance review cycle.AD Meta last week said it would dismantle its ...
Brazil studying Meta response to fact-check ultimatum
Techxplore· 2025-01-14 15:10
This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Credit: Julio Lopez from Pexels Brazil was on Tuesday analyzing a response from social media giant Meta which had been given a 72-hour deadline to explain its fact-checking policy for the country. The Attorney General's office (AGU) said in a statement that Meta had responded within the deadline after a threat of "legal and ju ...