Meta Moves to 'Dismiss Low Performers'... Lays Off 5% of Total Staff

Zuckerberg: "Removing Low Performers, Recruiting Top Talent"
3,600 Out of 72,000 Employees Expected to Be Laid Off

Meta, the parent company of Facebook, will reduce its workforce by 5%, focusing on low performers.

According to Bloomberg and other foreign media on the 14th (local time), Meta announced in an internal memo sent to employees that it will lay off 5% of its entire workforce based on performance and hire new employees to fill the vacancies.

Currently, Meta has 72,000 employees, and approximately 3,600, which is 5%, are expected to be laid off.

Mark Zuckerberg, Meta's CEO, said, "We have decided to raise performance management standards and remove low performers more quickly," adding, "Employees who do not meet expectations are generally managed for one year, but from now on, layoffs will be based on extensive performance evaluations during this period." He also added that generous severance pay will be provided to employees subject to layoffs.

Meta plans to notify low-performing employees of their termination on the 10th of next month. In countries other than the United States, the layoff notifications are expected to be delayed.

Earlier, CEO Zuckerberg declared 2023 as the "Year of Efficiency" and announced a plan to cut 10,000 jobs. This time, the layoffs are reported to be aimed not simply at cost efficiency but at removing low performers and securing top talent. In a memo sent to managers, Zuckerberg stated that the goal of laying off low performers is to secure the "strongest talent" and "bring in new personnel."

On the same day, Meta's stock closed at $594.25 per share on the New York Stock Exchange, down 2.31% from the previous trading day.