According to Insider, Meta employees are preparing for staff cuts of up to 10 per cent, with some employees believing the decision is imminent due to new performance requirements and a tougher market.
An employee said the redundancies had not yet begun, but a decision however remains imminent.
The impending layoffs follow an internal memo earlier this month in which Meta’s chief human resources officer, Lori Goler, suggested cutting employees who can’t meet expectations because the company is starting to work with “increased intensity.” The memo also tells professionals to develop higher-accomplishing teams, ruthlessly prioritize, and make the most of synchronous and asynchronous time with teams.
Meta is expected to post the first decline in revenue in its history as a publicly traded company, down 0.4 per cent to about C$29 billion. The company’s investors are bracing for flat user growth and a third consecutive quarter of profit declines, awaiting signs of cutbacks in hardware projects and slower hiring to manage costs.
The sources for this piece include an article in INSIDER.