Facebook may quietly sack 15% of its 12,000 employees: Report

 Facebook may quietly sack 15% of its 12,000 employees: Report

The Facebook parent's decision follows similar moves by other tech majors such as Apple, Microsoft and Google. "I expected the economy to stabilize more obviously by now, but what we're seeing doesn't seem to be the case yet, so we...

The meta platform is making "quiet layoffs" at Facebook to reduce its headcount as global headwinds and declining ad spend are causing serious problems for Big Tech firms.

A Business Insider report said that ahead of a recent weekly Q&A session between employees and CEO Mark Zuckerberg, executives told company directors that they needed to "support at least 15% of their teams" in an internal review. Required" should be selected. process.

This selective restructuring indicates a possible layoff of around 15% of the workforce, or about 12,000 employees.

Per the report, the potential layoffs were disclosed last week in a post by a meta worker on the blind — an app popular with tech workers that requires a valid company email address to access anonymously.

“These 15% will probably be put on the PIP (Performance Improvement Plan) and let go,” the person wrote, prompting hundreds of comments from other meta activists who debated how many people would be sacked.

In Facebook's employee-review process, someone who "needs support" is considered to be performing below benchmark goals. Such employees are placed on a PIP, which often does not result in layoffs.

So many people are considered underperformers, and some are given 30 days to find a new position at the company or leave, with one employee saying Meta was basically doing a "quiet layoff."

Last week, Meta announced a halt in hiring and subsequent restructuring as fears of a recession loom large around the world.

The Facebook parent's decision follows similar moves by other tech majors such as Apple, Microsoft and Google. These firms have stopped hiring their employees or started handing out pink slips to rationalize costs and maintain operating margins.

Zuckerberg told staff during the weekly Q&A session, "I expected the economy to be more markedly stable by now, but what we're seeing doesn't seem like it yet, so we want to do some conservative planning." Huh."

He said Meta would cut budgets for most teams and that individual teams would have to figure out how to handle headcount changes. In June, Meta said it planned to cut its hiring of engineers by at least 30% this year.