Meta Platforms, the owner of Facebook, is set to implement company-wide restructuring measures, including layoffs, as it prepares for a major overhaul.
Facebook owner Meta Platforms is planning to carry out its expected company-wide layoffs next week. The company has informed its employees in internal memos that notices will be sent out starting at 5 a.m. local time on Monday, February 10.
Meta Platforms, Inc.
is a technology company that operates and provides services for several well-known online platforms.
The company's primary focus is on developing and maintaining social media products, including Facebook, Instagram, and WhatsApp.
Meta Platforms also offers other services such as Oculus virtual reality technology, Portal smart displays, and Calibra digital wallet.
As of 2022, the company has a market capitalization of over $800 billion, making it one of the largest technology companies in the world.
Layoff Details and Exemptions
According to the memo authored by Meta’s Head of People Janelle Gale, employees in Germany, France, Italy, and the Netherlands will be exempt from the cuts due to local regulations. Employees in more than a dozen other countries across Europe, Asia, and Africa will receive their notifications between February 11 and February 18.
Meta, the parent company of Facebook and Instagram, announced significant layoffs in 2023.
The cuts affected thousands of employees across various departments.
According to reports, the layoffs were a result of Meta's efforts to reduce costs and realign resources following declining ad revenue.
The company's CEO, Mark Zuckerberg, stated that the move was necessary to ensure long-term sustainability.
Data from Layoffs.fyi shows that over 11,000 employees lost their jobs in 2023 alone.
The company has confirmed that it is planning to trim about 5% of its ‘lowest performers’ and backfill at least some of the positions. The memo refers to the cuts as ‘performance terminations.’
No Office Closures or Updates
Unlike with previous company-wide layoffs, Meta will keep its offices open on Monday and will not issue any updates providing further details on the decisions.
Expedited Hiring Process for Machine Learning Engineers
In a separate memo posted by VP of Engineering for Monetization Peng Fan, employees are asked to assist with an expedited hiring process for machine learning engineers and other ‘business critical’ engineering roles. This process will take place between February 11 and March 13.
Meta’s Priorities for 2025
The company is committed to achieving its accelerated hiring goals and better aligning with its priorities for 2025. Employees are thanked for their continued support in helping the company achieve these objectives.
