Meta to Cut 3,600 Jobs to Improve Performance Management

Meta said the recent restructuring is happening in the performance management sphere and is now resulting in the layoff of nearly 3,600 employees. According to Mark Zuckerberg, the Chief Executive Officer, the scheduled layoffs will roughly be about 5% due to the need to accelerate the performance management cycle.

In a memo addressed to employees, he wrote that the company would take a tighter stance against underperformance much earlier along the cycle with the intent of hopefully reducing the time with underperformers that will be let go. Earlier in 2023, Meta cut 10,000 jobs as part of its efficiency drive.

Mark Zuckerberg told the company's internal communications board: "I am raising my expectations for performance management. We continue to accelerate our work to reduce underperformance."

Unlike the usual course taken to tackle underperformance issues throughout the year, deep and fast cuts are being implemented at Meta these days.

However, after all these mass layoffs, once their performance management processes are in place and operational, Meta will seek to refill some of the roles vacated in pursuit of sustainable growth and innovative progress in the future as next year approaches, with 2025 in mind.

It is expected that next year's interests of the company will be around artificial intelligence, smart glasses, and further expansion of its social media sites. Zuckerberg termed the following year "intense," citing the audacity of the objectives he laid out.

By September, Meta had some 72,000 employees, and affected U.S. employees will be informed February 10. The remainder outside the United States will follow at a later date. Meta aims to end this performance cycle with 10% non-regrettable attrition rate. The goal will mirror that set in the last performance cycle.