Meta is cutting its workforce by about 5% through performance-based layoffs, Bloomberg reported on Tuesday. CEO Mark Zuckerberg said in an internal memo to employees that the company plans to hire a new person to fill the role.
“We have decided to raise the bar on performance management and fire poor performers sooner,” Zuckerberg said in the memo. “We typically spend a year removing people who don't meet expectations, but this time we plan to make broader performance-based reductions during this cycle.”
Meta employed about 72,000 people as of September, so a 5% layoff would affect about 3,600 people. Affected employees will be notified by February 10th.
The layoffs come as Meta has laid off a large number of employees in recent years. The company most recently laid off employees in October and plans to lay off 10,000 employees in 2023. Meta laid off 11,000 employees in 2022.