Meta CEO Mark Zuckerberg recently appeared on Joe Rogan’s Podcast, where the two discussed changing corporate culture in a wide-ranging interview.
facebook parent meta Meta announced Tuesday it plans to cut its workforce, focusing on the lowest performers, according to an internal memo sent to employees.
“I have decided to raise the level of performance management and rapidly weed out low performers.” Mark Zuckerberg, CEO of Meta Said in the memorandum. This news was first given by Bloomberg.
“We typically manage people who are not meeting expectations over the course of a year, but now we’re going to make more sweeping performance-based cuts during this cycle,” he said.
Meta said it plans to reach 10% “non-regrettable” attenuation before the end of its current performance cycle. According to the memo, that figure includes about 5% non-repentant erosion through 2024.
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Meta said in an internal memo to employees that it would part with 5% of its lowest performing workforce. (Photographer: David Paul Morris/Bloomberg via Getty Images/Getty Images)
“This means we are targeting the exit of approximately 5% of our current employees who have been with the company long enough to receive a performance rating,” Meta said in the memo.
Zuckerberg said that employees affected by the cuts will receive a “generous severance” from Meta.
| anchor | Security | Last | Change | Change % |
|---|---|---|---|---|
| meta | Meta Platform Inc. | 619.81 | +25.56 |
+4.30% |
the company plans hire new employees For roles vacated through performance-oriented attrition.
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Meta CEO Mark Zuckerberg said in the memo that the company would provide generous severance to departing employees. (Reuters/Manuel Orbegozo/Reuters)
Meta’s move comes after Zuckerberg announced the social media platform last week Its fact-checking is coming to an end service and will instead turn to a Community Notes-like system, similar to what Elon Musk implemented at X, formerly Twitter.
social media giant It has cut its workforce on several occasions in recent years.
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In 2022, Meta restructured its workforce resulting in the reduction of approximately 11,000 jobs.
Zuckerberg dubbed 2023 “Year of Efficiency” in Meta.During which it eliminated approximately 10,000 roles in the company.
Reuters contributed to this report.
