Meta CEO Mark Zuckerberg announced plans to cut approximately 5% of the company's workforce this year as part of a broader effort to remove underperforming employees. The move could affect around 3,600 workers based on Meta's employee count of 72,000 as of September 2023.
In a memo shared on Meta's internal message board, Zuckerberg outlined his intention to elevate performance standards across the organization. "I've decided to raise the bar on performance management and move out low-performers faster," the CEO stated in the communication first reported by Bloomberg.
The company plans to conduct more extensive performance-based cuts during this review cycle, departing from its typical year-long approach to managing underperforming staff. US-based employees affected by the layoffs will receive notification on February 10, following performance reviews. The company has committed to providing generous severance packages to impacted workers.
This workforce reduction follows Meta's previous round of layoffs in 2023, which Zuckerberg labeled as part of a "year of efficiency." That initiative included substantial reductions in middle management positions.
The latest restructuring comes amid several organizational changes at Meta. The company recently discontinued its diversity, equity, and inclusion (DEI) initiatives and appointed Republican Joel Kaplan as its top policy executive.
Zuckerberg indicated that Meta intends to hire new employees throughout the year to replace those departing, while increasing focus on artificial intelligence and other key projects. The CEO anticipates an "intense year" ahead for the social media giant.