Meta is reducing its workforce by about 5% through performance-based terminations, Bloomberg reported on Tuesday. The company plans to hire new people to fill the roles, CEO Mark Zuckerberg said in an internal memo to staff.
“I’ve decided to raise the bar on performance management and move out low-performers faster,” Zuckerberg said in the note. “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 employed around 72,000 people as of September, so a 5% cut in jobs will affect around 3,600 people. Affected employees will be notified by February 10.
The upcoming cuts come as Meta has laid off a large amount of its workforce in recent years. The company most recently laid off employees in October, and let go of 10,000 workers in 2023. In 2022, Meta laid off 11,000 employees.
