Meta will lay off 3,600 of its employees
, by Thibaut
The year is off to a bad, bad start for the technology and video games industry. Indeed, Meta is about to lay off several thousand people from its various departments.
In an internal memo, CEO Mark Zuckerberg explains that this is a performance-based plan, and as such, those deemed inefficient will be let go. Around 5% of the entire workforce will loose its position, representing 3,600 of the total 72,000 employees worldwide.
"I’ve decided to raise the bar on performance management and move out low performers faster."
"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 during this cycle."
"We won’t manage out everyone who didn’t meet expectations for the last period if we’re optimistic about their future performance, and for those we do let go, we’ll provide generous severance in line with what we provided with previous cuts."
Source: bloomberg.com