By Free Republic | Created at 2025-01-15 00:50:24 | Updated at 2025-01-18 13:19:01
3 days ago
Meta announces 5% cuts in preparation for ‘intense year’ — read the internal memo
CNBC ^ | Jan 14, 2025 | Salvadore Rodriguez
Posted on 01/14/2025 4:20:57 PM PST by dayglored
* Meta is set to cut about 5% of its workforce, focusing on the company’s lowest-performing workers, CNBC confirmed Tuesday.
* CEO Mark Zuckerberg informed employees about the decision to “move out low performers faster” in a memo posted on the company’s internal Workplace forum on Tuesday.
* Zuckerberg told employees 2025 will “be an intense year.”
Meta is set to cut about 5% of its workforce, focusing on the company’s lowest-performing staffers, CNBC confirmed Tuesday.
CEO Mark Zuckerberg informed employees about the decision to “move out low performers faster” in a memo posted on the company’s internal Workplace forum on Tuesday. Zuckerberg told employees 2025 will “be an intense year.”
The company specified that it is “exiting approximately 5% of our lowest performers” in a separate message posted by a company director. Meta has more than 72,000 employees, according to its most recent quarterly report.
Meta said employees affected by the layoffs will be notified by Feb. 10 and receive severance in line with what the company has provided previously. The cuts represent Meta’s largest layoffs since it eliminated 21,000 jobs, or nearly a quarter of its workforce, in 2022 and 2023.
(Excerpt) Read more at cnbc.com ...
TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: facebook; layoffs; meta; zuckerberg
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Not as big a cut as in prior years, but it's only two weeks into the new year so there's plenty of time for more cuts.
It's notable that these cuts indicate interest in ... dare we say it... "merit"?
1 posted on 01/14/2025 4:20:57 PM PST by dayglored
To: dayglored
Looks like "read the internal memo" requires going to Bloomberg, which requires a subscription. But you get the idea....
If somebody has a link that's not behind a subscription/paywall, please post it in the comments. Thanks.
2 posted on 01/14/2025 4:23:21 PM PST by dayglored (This is the day which the LORD hath made; we will rejoice and be glad in it. Psalms 118:24)
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