Meta to Cut 5% of Employees with Plans to Rehire

This is going to be an intense year, and I want to make sure we have the best people on our teams.

Mark Zuckerberg, CEO of Meta, in an internal memo to Meta’s workforce informing employees of layoffs this year.

Why it Matters: About 3,600 of the company’s “lowest performers” will likely lose their jobs, and those positions will be replaced with new hires later this year. Affected employees will be notified in early February and will recieve “generous” severance, according to the company. This announcement comes on the heels of Meta announcing plans to end its fact-checking program, reduce censorship of content and reinstate political content based on personal preferences.

Read More: Meta announces 5% cuts in preparation for ‘intense year’ — read the internal memo (CNBC)

Meta is cutting 5% of its ‘lowest performers’ (CNN)

Image Credit: Mariia Shalabaieva / Unsplash