Meta to Cut Roughly 5% of Staff, Targeting Lowest Performers
Published On Jan 14, 2025, 1:39 PM
Meta Platforms Inc. will cut around 5% of its workforce, which equates to roughly 3,600 positions based on its current employee count of 72,000. This decision aims to target low performers as part of CEO Mark Zuckerberg's plan to enhance talent and efficiency within the company. While the cuts are set to happen soon, Meta will also be looking to hire new employees to fill these roles. This follows previous job cuts made last year, and Zuckerberg emphasized the cuts are part of a strategy for an 'intense year' ahead focused on artificial intelligence and other innovations.
Stock Forecasts
META
Negative
This decision reflects Meta's shift to performance-based management and aligns with its ongoing restructuring efforts. Such actions can lead to a more efficient workforce in the long run, which may enhance the company's market position. However, immediate investor sentiment may turn cautious, as layoffs can raise concerns about company stability and growth prospects.
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