Meta to cut 5% of underperforming employees in 2024, aims for efficiency

Meta Platforms Inc. plans to cut approximately 5% of its workforce identified as low-performing, aiming to enhance overall efficiency. According to a memo from CEO Mark Zuckerberg, this decision is part of an effort to raise performance standards and act more quickly in addressing underperformance.

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Meta’s workforce, which numbered about 72,000 employees as of September, could see around 3,600 positions eliminated under this initiative. Zuckerberg stated, “We’ve decided to increase the focus on performance management and remove low performers faster. Historically, this process took a year, but we’re streamlining it for quicker action,” as quoted by several publications. 

This move aligns with Meta’s goal to achieve 10% "non-regrettable" attrition by the end of the current performance cycle, with half of it coming from 2024. Employees flagged as underperforming in recent evaluations will be impacted. Meta has promised affected workers “generous severance” packages.

The layoffs come as part of Zuckerberg’s "Year of Efficiency" campaign, designed to cut costs and optimise operations. Over the past year, Meta has already executed significant layoffs, focusing on reshaping teams and boosting profitability.

These workforce reductions coincide with broader shifts in Meta’s policies. The company recently relaxed its content moderation rules for topics like immigration and transgender rights, positioning it as a move to promote free expression. However, critics argue that these changes could harm marginalised groups.

Additionally, Meta has ended its third-party fact-checking programme in the United States, raising concerns about the spread of misinformation on its platforms. Internal diversity initiatives have also been scaled back, prompting criticism for perceived neglect of inclusivity efforts.

With these changes, Meta is navigating internal and external challenges while working to align its operations with Zuckerberg’s vision for a leaner, more efficient organisation.