Tech giant Meta announced plans to lay off about 3,600 employees based on their performance, US media reported on Tuesday.
This will affect 5% of the company’s 72,000-strong workforce, said the company to AFP news agency.
“I’ve decided to raise the bar on performance management and move out low-performers faster,” CEO Mark Zuckerberg said.
Recent changes at Meta
Meta, which owns , Instagram and Whatsapp wants to ensure they have the “strongest talent” and “bring new people in,” said Zuckerberg.
According to the plan, employees who underperform will be asked to leave sooner, and will be replaced by new hires, reported Bloomberg and tech blog The Verge.
Zuckerberg, 40, is the third richest person in the world. He has recently aligned closer to US president-elect .
Recently, Meta announced the shutdown of its US and scaled back its diversity and inclusion initiatives. It also made its content moderation rules more lenient.
Cost-cutting amid losses
Zuckerberg changed his company Facebook’s name to Meta in 2021 after an ambitious plan to develop an immersive virtual reality experience, or ‘metaverse.’
However, Reality Labs, Meta’s virtual and augmented reality branch, has been making losses.
This is not the first time the company has seen layoffs. After seeing initial growth during the COVID-19 pandemic, Meta cut some 20,000 jobs.
Meta laid off the large number of employees in a cost-cutting move in 2023, which was declared as its “year of efficiency.”
tg/ab (dpa, Reuters)
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