Facebook employees prepares for 10 per cent job cuts

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.

Apple’s new privacy policy has implications for the company’s access to user data, and CEO Mark Zuckerberg says the company is now focused on rebuilding its ad system while pursuing the process of doing so.

The sources for this piece include an article in INSIDER.

IT World Canada Staff
IT World Canada Staff
The online resource for Canadian Information Technology professionals.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

ITW in your inbox

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

More Best of The Web