In an effort to maintain a competitive edge, Meta plans to conduct job cuts affecting 5% of its workforce, emphasizing performance reviews over cost-cutting.
Zuckerberg stated, 'I've decided to raise the bar on performance management and move out low-performers faster,' indicating a shift in Meta's approach to workforce management.
Unlike previous layoffs positioned as cost-cutting, Meta clearly states these cuts are performance-based, a distinction many firms hesitate to publicly acknowledge.
This decision reflects a broader trend in the tech industry, where companies like Microsoft and Amazon are also using performance reviews to drive layoffs.
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