Meta has initiated layoffs affecting around 3,600 employees, representing 5% of its global workforce. The decision is based on performance reviews, with the aim to cut 'low performers' as indicated by CEO Mark Zuckerberg. Following their layoffs, employees received severance packages similar to those given in other major tech layoffs, including 16 weeks of pay plus additional compensation based on years served. The approach raised concerns among existing employees about job security and potential stigma in future job searches due to performance labels.
Meta's performance-based layoffs affect 5% of its workforce, targeting low performers based on performance review rankings mandated by the company’s management structure.
CEO Mark Zuckerberg's memo indicated that the layoffs aimed to address low performance, creating a culture of fear among employees regarding job security.
Affected employees received a severance package of 16 weeks' pay plus two weeks for each year of service, mirroring Google's recent layoffs.
Employees express concern that performance-based layoffs unfairly label them in the job market, potentially harming future employment opportunities.
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