Facebook To Sack 15% Of Employees!

As per reports, amid its growing losses, Meta is implementing 'quiet layoffs' of underperforming employees. This could mean serving pink slips to 15% of its workforce, leading to thousands.

Close resources have quoted Facebook employees confirming that as many as 15% of the company's workforce could be slashed within a few weeks. Mark Zuckerberg's firm managers have been told to select at least 15% of their teams who are categorized as "needs support."

Employees who 'need support' are perceived to be falling under the category of failing to meet performance goals. A "performance improvement plan" (PIP) is then imposed on these employees, which is a precursor to losing their jobs.

Last week, Mark Zuckerberg, Meta CEO told employees that the company has frozen new hiring and blamed economic headwinds. He even warned the company might be forced to undergo downsizing or restructuring.

Zuckerberg said Meta would be slashing budgets across its departments and subsidiaries, including Facebook, Instagram, and WhatsApp.

Despite Facebook's dominance in mobile advertising, serious questions have been raised about its ability to grow, particularly in the face of fierce competition from ByteDance's TikTok.