Facebook owner Meta Platforms is planning to cut about 5 per cent of its lowest performers with the intent of backfilling their roles this year, according to an internal memo sent to employees.
“I’ve decided to raise the bar on performance management and move out low-performers faster,” chief executive Mark Zuckerberg said in the memo. “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.”
Meta has not yet publicly commented on how the latest cuts will impact its Irish workforce, which currently stands at around 2,000. If the cuts were proportionate, that would imply about 100 jobs would go here. The company has already implemented a number of cutbacks since 2022 that saw more than 850 people depart the tech giant.
The company expects to reach 10 per cent of “non-regrettable” attrition by the end of the current performance cycle, which includes roughly 5 per cent non-regrettable attrition from 2024, the memo shows. “This means we are aiming to exit approximately another 5 per cent of our current employees who have been with the company long enough to receive a performance rating,” the company said.
Zuckerberg noted that the company would “provide generous severance.”
The move comes days after Zuckerberg said the company would remove fact checking in the US, named Republican Joel Kaplan as global policy chief and added UFC chief executive and Donald Trump ally Dana White as a board member. The company has also rolled back its diversity, equity and inclusion programmes. The Facebook founder has also praised the idea of a company having “masculine energy” in recent days.– Bloomberg
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