Winning Bizness Desk
Mumbai.Meta, the parent company of Facebook and WhatsApp, is set to lay off 3,600 employees under a performance-based job cut policy. CEO Mark Zuckerberg announced that approximately 5% of the company’s workforce will be affected. According to September 2024 data, Meta employs around 72,000 people globally. The company plans to notify employees in the United States about the layoffs by February 10, while those working outside the U.S. will be informed later. In 2023, Meta had already laid off around 10,000 employees as part of its restructuring efforts.
Plans for Replacements
As per a Bloomberg report, Zuckerberg stated in a memo to employees that the company aims to accelerate its performance management processes. In an internal note shared on the company’s message board, Zuckerberg said, “I’ve decided to raise the bar for performance management and move low performers out as quickly as possible.”
Zuckerberg also mentioned that the company has been dealing with underperformance over the past year, but now it is time for a significant cutback. He added, “We typically let go of people who fail to meet expectations over a year.” In addition to layoffs, Meta plans to replace roles in 2025 to focus on future development and innovation. The company aims to prioritize areas like artificial intelligence (AI), smart glasses, and evolving social media platforms.
Microsoft to Follow Suit
Reports suggest that Microsoft is also preparing to lay off low-performing employees. However, the exact number of affected staff has not been disclosed.
In a related development, a gold-plated necklace owned by Mark Zuckerberg is being auctioned for a noble cause. The 6.5mm Cuban necklace, made of vermeil gold, has already attracted a bid of over $40,000 (approximately ₹34 lakh).
The auction is part of a unique fundraising strategy, with proceeds directed to Inflection Grants, a philanthropic initiative. This program provides $2,000 grants to support creative individuals working on "magically weird" projects. The goal is to foster creativity and innovation through these grants.
Focus on Future Growth
With its recent layoffs and plans for role replacements, Meta is positioning itself to adapt to emerging technologies and sectors. The company’s emphasis on AI, smart wearables, and advanced social media platforms signals its commitment to staying ahead in a competitive digital landscape.
