Meta will cut about 5% of its workforce based on performance

Meta does reducing the workforce by about 5% Bloomberg on Tuesday, with performance-based terminations. CEO Mark Zuckerberg said in an internal memo to employees that the company plans to hire new people to fill those roles.

“I decided to raise the bar on performance management and fire low performers faster,” Zuckerberg said in the memo. “We typically manage people who don’t meet expectations over a year, but now we’ll be making broader performance-based cuts over that period.”

As of September, Meta employed about 72,000 people, so a 5% job cut would affect about 3,600 people. Affected employees will be notified by February 10.

The upcoming layoffs come as Meta has cut a large number of its workforce in recent years. company most recently fired employees in October and Let go of 10,000 workers In 2023. In 2022, Meta laid off 11,000 workers.