Meta's decision to lay off 5% of its workforce, over 3,600 employees, reflects a shift towards aggressive performance management under CEO Mark Zuckerberg, emphasizing quicker firings of low-performers.
Zuckerberg noted, 'We've decided to raise the bar on performance management and move out low-performers faster... we're going to do more extensive performance-based cuts during this cycle,' indicating a significant change in HR strategy.
In a broader context, Zuckerberg explained, 'The recent elections feel like a cultural tipping point towards once again prioritizing speech... we're going to focus on reducing mistakes and restoring free expression on our platforms,' signifying a strategic pivot for Meta.
The layoffs follow a series of transformations at Meta, including the addition of UFC boss Dana White to the board and the replacement of its fact-checking system, reflecting a changing company ethos.
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