Meta Cuts 5% of Jobs to Address 'Lowest Performers'.

Meta, the parent company of Facebook, Instagram, and WhatsApp, is set to reduce approximately 5% of its global workforce as part of an initiative to more swiftly eliminate "low performers."

In a communication to employees, CEO Mark Zuckerberg indicated that this decision aims to accelerate the company's routine performance evaluations in preparation for what he described as an "intense year."

He noted that the company plans to "backfill" these positions later in 2025.

With a global workforce of around 72,000, the company has not specified how the reductions will be allocated across different regions.

Employees in the United States who are impacted will be notified by February 10, as stated in Mr. Zuckerberg's memo. Those located outside the United States will receive updates at a later date.

paris,,france, ,may,24,,2018,:,facebook,ceo,mark

"This is going to be an intense year, and I want to make sure we have the best people on our teams," he wrote.

"I've decided to raise the bar on performance management and move out low performers faster."

The recent decision follows a series of significant actions taken by Mr. Zuckerberg, including the termination of the company's fact-checking and diversity initiatives.

In corporate America, job reductions based on performance are a prevalent practice. According to Mr. Zuckerberg, while such reductions at Meta typically occur over a year, this year's process is being expedited.

Approximately 3,600 employees may be impacted by this decision, and they will be offered "generous severance," as stated by Mr. Zuckerberg.

The last major layoffs at Meta occurred in 2023, when the company eliminated around 10,000 positions as part of a cost-reduction strategy after Mr. Zuckerberg proclaimed it the "year of efficiency." In 2022, the company had already reduced its workforce by about 11,000 roles.

Additionally, Mr. Zuckerberg seems to be revamping his public persona.

In a recent podcast with Joe Rogan, he expressed the belief that companies require more "masculine energy" and shared his interest in martial arts, which he enjoys as it allows him to express himself more fully than in his corporate responsibilities.

rosario,,argentina, ,june,20,,2024:,man,holding,a,smartphone

"When you're running a company, people typically don't wanna see you being like this ruthless person who's just like I'm gonna crush the people I'm competing with," he said. "But when you're fighting, it's like no."

"I think in some ways when people see me competing in the sport they're like oh no, 'That's the real Mark."

Meta’s decision to cut 5% of its workforce to remove “low performers” signals a troubling shift in corporate culture, emphasizing efficiency over employee well-being. The expedited layoffs, affecting thousands, create an environment of uncertainty and fear among workers, undermining morale.

LATEST: US Watchdog Sues Elon Musk Over Delayed Twitter Stake Disclosure.

While performance management is essential, implementing such drastic measures in an already volatile market raises concerns about the company’s commitment to its employees. The repeated rounds of layoffs also point to deeper issues within Meta, such as a lack of clear direction and over-reliance on cost-cutting strategies. This approach risks eroding the company’s long-term stability and reputation.

daily top stock pick (1)
stock monitor