Meta Platforms Inc. to Implement Performance-Based Staff Cuts

In a recent announcement, Meta Platforms Inc. has informed its employees about forthcoming staff reductions, with a particular focus on those not meeting performance expectations. This news comes from a report by The Information, which cited a post from the company's internal chat system.

CEO Mark Zuckerberg's Statement on Performance Management

Meta CEO Mark Zuckerberg emphasized the need to elevate performance standards and expedite the process of phasing out low performers. He noted that while such evaluations typically occur annually, the company plans to conduct more extensive performance-based layoffs in the current cycle, aiming to refill these positions by 2025.

Increased Expectations for Employee Performance

Documents obtained by the media reveal that Meta has instructed its managers to rate 12% to 15% of employees as "below expectations" during the mid-year performance reviews in 2024, a significant increase from the 7.5% to 9.5% range in 2023. CNBC reports that this latest round of cuts will affect 5% of the workforce.