Meta hints layoff of 11000 more employees, these jobs are at risk

14 Mar, 2023
Meta hints layoff of 11000 more employees, these jobs are at risk

2023 began with huge layoffs in big tech giants leading to unemployment for a lot of workers. Not only that, many companies have announced layoffs twice in mere 2-3 months. Many sources suggest that Mark Zuckerberg is considering another round of layoffs across the Meta division among all the recent ones. According to reports, Meta is reportedly preparing to terminate as many workers as it did in the first round of layoffs, or roughly 11,000 workers.

Which employees are in danger?

Over 10% of Meta's workers received substandard performance reports after its performance reviews were completed last month. As a result of their subpar work, almost 7,000 employees have received bad evaluations. The lowest performance rating of "meets some" was given to these workers.

“We've always had a goal-based culture of high performance, and our review process is designed to reward long-term thinking and high-quality work while assisting employees in receiving relevant feedback, a Meta representative told the Wall Street Journal.” According to the performance review, the employees who obtained negative ratings are probably going to be affected by the latest wave of layoffs.

Meta giving buyout packages to managers

Also, Meta is trying to flatten its structure and is offering buyout incentives to managers. The new round of layoffs, according to the article, is separate from the company's effort to flatten the organization and is motivated by Meta's desire to meet financial targets. As Mark Zuckerberg is anticipated to announce the layoffs prior to departing on maternity leave for his third child, the latest round of job cuts is anticipated to begin soon.

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