Layoff Details
- Reason
- Meta is implementing performance-based job cuts, targeting approximately 5% of its workforce, or around 3,600 employees. This decision, announced by CEO Mark Zuckerberg in an internal memo, aims to 'raise the bar on performance management' and 'move out low-performers faster' as the company prepares for an 'intense year' focused on strategic areas like artificial intelligence (AI) and smart glasses. The layoffs are part of Meta's broader goal to achieve 10% 'non-regrettable' attrition by the end of the current performance cycle. Additionally, the company is undergoing a transformation that includes ending its US fact-checking program and diversity, equity, and inclusion (DEI) initiatives, with plans to replace the vacated roles with new talent later in 2025.
- Affected Locations
- United StatesGlobal (non-US employees to be informed later)
Stock Performance Around Layoff
Sources (6)
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Recent Meta News
Stock Price
Company Info
- Website
- investor.atmeta.com
- Industry
- Internet Content & Information
- Sector
- Communication Services
- Headquarters
- Menlo Park, CA, United States
- Founded
- 2004
- CEO
- Mr. Mark Elliot Zuckerberg
- Employees
- 78,450
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