Meta Platforms Inc. is planning to cut about 5% of its lowest performers with the intent of backfilling their roles this year, according to an internal memo sent to employees. “I’ve decided to raise the bar on performance management and move out low-performers faster,” chief executive officer Mark Zuckerberg said in the memo. “We typically manage out people who aren’t meeting expectations over the course of a year, but now we’re going to do more extensive performance-based cuts during this cycle.”
The company expects to reach 10% of “non-regrettable” attrition by the end of the current performance cycle, which includes roughly 5% non-regrettable attrition from 2024, the memo shows. “This means we are aiming to exit approximately another 5% of our current employees who have been with the company long enough to receive a performance rating,” the company said.
Zuckerberg noted that the company would “provide generous severance.”
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