Meta is planning to reduce its workforce by 5% as part of a series of "performance-based cuts"

Meta is initiating a round of "performance-based cuts," which will see 5% of its workforce laid off.

According to Bloomberg, CEO Mark Zuckerberg revealed in a company memo that the jobs affected will be refilled by the end of the year.

Zuckerberg stated, "I've decided to raise the bar on performance management and move out low-performers faster."

"We usually manage out individuals who fall short over a year, but now we will conduct broader performance-based reductions during this period."

He mentioned (via CNBC): "We won't manage out everyone who didn’t meet expectations last period if we're hopeful for their future, and we'll offer substantial severance to those departing, consistent with prior reductions."

With a workforce surpassing 72,000 as of September 2024, approximately 3,600 positions could be vulnerable to these cuts.

These layoffs will impact only those qualified for a performance assessment.

Employees in the US will be notified by February 10, with those in other regions informed later.

Previously, Meta eliminated 10,000 positions and closed 5,000 openings in March 2023. Zuckerberg cited these measures as necessary for enhancing the company’s financial state, which included halting lower-priority initiatives and scaling back recruitment.