Meta Platforms may go for massive layoffs of about 15% of its workforce at Facebook amid significant downfall in advertisements.
At least 12,000 people working at Facebook are subjected to job loss as the leading social media company labelled those employees under a review process for below the mark performance.
According to a recent report by New York based Business Insider, “At a weekly Q&A session between the staff and chief executive officer of Facebook Mark Zuckerberg, executives told directors of the company that they should review the performance of at least 15% of their employees.”
“The potential layoffs were revealed last week in a post by a Meta worker on Blind – an app popular with tech workers that requires a valid company email address to use anonymously,” the report said.
“These 15% will likely be put on PIP (performance improvement plan) and be let go,” an anonymous person wrote, prompting hundreds of comments from other Meta workers, who debated how many people would be sacked.
With so many people deemed to be underperforming, and some being given 30 days to find a new position at the company or leave, one staffer said Meta was basically conducting "quiet layoffs”.
Meanwhile, Meta announced last week a temporary halt in hiring new workforce ahead of the fear of global recession.
“I had hoped the economy would have more clearly stabilised by now, but from what we are seeing it doesn`t yet seem like it has, so we want to plan somewhat conservatively," Zuckerberg told employees during the weekly Q&A session.
He said Meta would cut budgets across most teams and individual teams would have to figure out how to handle the headcount changes. In June, Meta said it planned to cut its hiring of engineers by at least 30% this year.
