Meta will cut roughly 5 percent of its workforce, according to CEO Mark Zuckerberg.
Employees of Facebook’s and Instagram’s parent company were notified of the performance-based layoffs through an internal memo on Tuesday.
“Meta is working on building some of the most important technologies of the world. AI, glasses as the next computing platform and the future of social media,” Zuckerberg wrote in the memo first reported by Bloomberg.
“This is going to be an intense year, and I want to make sure we have the best people on our teams. 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, with the intention of back filling these roles in 2025,” he continued….