Meta may be prepping to lay off thousands more employees after giving them poor performance reviews.
Meta has already laid off 11,000 employees, the largest number for a single company in 2022. According to a report in The Wall Street Journal, the company may be preparing to add to that number, giving some 10% of its employees a “meets most” rating. Of the company’s five performance ratings, “meets most” is the second-lowest, with “meets some” being the lowest. Very few of the lowest ratings are ever given, however.
Meta has repeatedly signaled its intention to drastically cut costs. CEO Mark Zuckerberg emphasized that goal once again in a recent discussion with investors.
“We’re working on flattening our org structure and removing some layers of middle management to make decisions faster as well as deploying AI tools to help our engineers be more productive,” Zuckerberg said.
Employees have already expressed their frustration with Zuckerberg over his management of the company, especially his near-obsessive focus on the metaverse. The frustration is driven in no small part by the fact that Meta is continuing to pour billions into metaverse development, despite its mass layoffs.
If the company does engage in another major round, it’s a sure bet confidence in Zuckerberg’s leadership will hit an all-time low.