Meta to lay off 3,600 staffers

Meta is planning to lay off 3,600 employees and replace them with new appointees.

This is 5% of the tech company’s workforce.

The tech giant is supposed to pick "low performers" for the lay offs, says a Bloomberg report.

As per reports, Meta CEO Mark Zuckerberg has said: "I've decided to raise the bar on performance management and move out low-performers faster." He has also spoken about harbouring the "strongest talent" and brining "new people in".

Meanwhile, on Monday, the US Supreme Court refused to hear the tech giant’s appeal to dismiss a multi-billion-dollar class action lawsuit. The case, brought by advertisers, accuses Meta, the parent company of Facebook and Instagram, of overcharging by inflating the number of people their ads might reach.

An internal memo that is being circulated on social media quotes Zuckerberg as saying:

"I've decided to raise the bar on performance management and move out low-performers faster. 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 --with the intention of backfilling these roles in 2025. We won't manage out everyone who didn't meet expectations for the last period if we're optimistic about their future performance, and for those we do let go we'll provide generous severance in line with what we've provided with previous cuts.

We'll follow up with more guidance for managers ahead of calibrations. People who are impacted will be notified on February 10 -- or later for those outside the US.
Letting people go is never easy. But I'm confident this will strengthen our teams and help us build leading technology to enable the future of human connection."