Meta Platforms Cuts 5% Staff

Meta Platforms is implementing significant performance-based job cuts, affecting approximately 5% of its 72,000 employees, or about 3,600 jobs. CEO Mark Zuckerberg stated that the company aims to 'raise the bar on performance management' and replace low-performers with new hires. This initiative is part of Meta Platforms' broader strategy to reduce its headcount by 10% by the end of the current performance cycle, including attrition from the previous year. Affected US workers are expected to be notified by February 10, with generous severance packages provided. These cuts follow previous layoffs in 2022 and 2023 and coincide with other strategic changes at Meta Platforms, such as disbanding US-based fact-checking, ending diversity and inclusion efforts, and modifying its 'hateful conduct' policy. Mark Zuckerberg also plans to attend Donald Trump's inauguration, signaling efforts to improve relations. The company is focusing on artificial intelligence, smart glasses, and the future of social media, positioning itself for an 'intense year'. Microsoft is also reportedly making similar performance-based job cuts.