Meta is cutting 5% of its workforce as Zuckerberg looks to "raise the bar"

Meta is cutting 5% of its workforce as Zuckerberg looks to “raise the bar”

Meta, the parent company of Facebook, is set to reduce its workforce by 5% following an announcement from CEO Mark Zuckerberg. The decision is fueled by the desire to remove underperforming employees and bring in new talent. The cuts, in addition to general attrition, are projected to result in a decrease of approximately 10% of the workforce this year.

In an internal memo obtained by Bloomberg, Zuckerberg outlined plans to let go of at least 3,600 “low-performing” employees out of Meta’s current 72,500-strong workforce. The company aims to enforce stricter performance evaluations and fill open positions until 2025. Employees in the US are expected to receive notifications by February 10, while those outside the US will be informed at a later date, receiving substantial severance packages.

Moreover, the company anticipates a considerable shift in its focus towards AI, smart glasses, and social media platforms. This move aligns with Zuckerberg’s strategy to capitalize on opportunities arising from TikTok’s potential ban in the US. Additionally, Meta will discontinue its Diversity, Equity, and Inclusion programs, opting for a community-based notes system for fact-checking on Facebook and Instagram, akin to Twitter’s new approach.