It sounds like they're laying off 5% of the company, but are also firing the lowest 5% of employees without eliminating the role.
> Meta is set to cut about 5% of its workforce, focusing on the company’s lowest-performing workers, CNBC confirmed Tuesday.
> Another 5% of the 2024 employee base “who have been with the company long enough to receive a performance rating” will also be cut, Bloomberg reported, citing an internal memo.
And a direct quote from Zucky:
> 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 back filling these roles in 2025.
last quote is the key point and tracks with the other Vibe Shift press releases Mark has been on about. i read this as, there was a fear that laying off underperformers without very long PIP processes would be dangerous to the company, now he thinks it's less likely given the political landscape, so let's fire them ASAP rather than drawing it out.
I'm not really clear on how the "Vibe Shift" thing is going to make this easier, but doesn't it seem like now is a great time to be doing "backfills" if you pay FAANG money?
Setting the expectation that you can be canned quickly if you aren't a good backfill will probably be a useful filter. It's not like they can get rid of all the dead weight, but every 5% helps.
> Meta is set to cut about 5% of its workforce, focusing on the company’s lowest-performing workers, CNBC confirmed Tuesday. > Another 5% of the 2024 employee base “who have been with the company long enough to receive a performance rating” will also be cut, Bloomberg reported, citing an internal memo.
And a direct quote from Zucky:
> 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 back filling these roles in 2025.