E-Paper
Meta gives ‘subpar’ rating to 7,000 employees, says report. More layoffs coming?
In November last year, the tech giant handed pink slips to 11,000 employees or 13% of its workforce.
According to a report, thousands of Meta employees have received poor performance reviews from the company, raising fears that the tech giant may come up with a fresh round of layoffs, after it handed pink slips to around 11,000 workers in November last year.
Also Read | Meta plans fresh layoffs, delays setting team budgets: Report
Approximately 7,000 employees were ranked ‘subpar’ by Meta in a recent round of performance reviews, reported Moneycontrol citing The Wall Street Journal, adding that the firm also did away with a bonus metric.
“Low ratings could lead to more employees exiting Meta,” said a source to The Wall Street Journal, according to the report.
In a statement to the paper, a Meta spokesperson said, “We've always had a goal-based structure of high performance, and our review process is intended to incentivise long-term thinking and high-quality work, while helping employees get actionable feedback.”
Also Read | Zuckerberg's Meta gearing up for more layoffs? This report suggests so
November 2022 layoffs at Meta
The Menlo Park-headquartered firm laid off 13% of its workforce, with CEO Mark Zuckerberg apologising for the job cuts, and taking accountability for the move.
Also Read | Mark Zuckerberg says 'sorry' as Meta fires 11,000 employees. Read full statement1
These were the first layoffs in the history of the company previously named Facebook, and was founded in Jan 2004; it was rechristened to its current name in October 2021. Besides Facebook, it is the parent organsiation also to Instagram and WhatsApp.
