Bloomberg reports that Facebook and WhatsApp’s parent company, Meta Platforms, plans to lay off thousands of “underperforming” employees to fill their positions this year.
CEO Mark Zuckerberg wrote this in an internal memo sent to employees.
According to Bloomberg, which obtained the memo, the decision would affect about 5 percent of the workforce. Meta had about 72,000 employees in September, so such a reduction would mean replacing about 3,600 people.
‘Raising the bar’
“I’ve decided to raise the bar on performance and let people who aren’t good enough go faster,” Zuckerberg wrote. According to the CEO, the social media company typically lets go of employees who don’t meet expectations over a year.
Meta would even aim for a ten percent ‘non-regrettable’ outflow. Meta reported that about half of the people left the company last year. Zuckerberg also noted that the company would ‘offer a generous severance package’.
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