Facebook parent Meta Platform Inc. gives Low ratings to approximately 7000 employees. This 10% Meta workforce fails to impress Mark Zuckerberg and expects upcoming layoffs.
Back in 2021, Mark Zuckerberg introduced Meta. It has brought his apps and technologies under one umbrella. Specifically, he developed this to provide a different online social experience by bringing the metaverse to life.
While talking to WBF, a former Meta employee said that these low ratings indicate that “old school Mark” is back.
The first thing to remember, Mark Zuckerberg has a very proactive approach. Nothing seems to stop him from making 2023 “a year of efficiency.”
One of the spokespersons said, “We’ve always had a goal-based culture of high performance. Our review process intends to get a high-quality work, while helping employees get actionable feedback.”
Moreover, this expected layoff is not happening for the first time. This Menlo Park tech giant has recently made 11,000 workers, or 13% of its workforce, hit the exit due to bad reviews on performance.
At this point, nothing seems smooth for Meta. Last year, Meta’s stocks fell by 70%. In addition, the company’s situation, uninviting layoffs, and delayed budgets have demoralized employees.
One of the Meta employees, while talking with WBF, declared this situation “the mess.”
Over the last three years, Mark has nearly doubled the employees’ payroll. But this time, another round of layoffs will exactly reverse Meta’s former hiring policies.
Considering the situation, Mark aims to satisfy the investors by removing low performers. Explaininging the current situation to investors, Mark said, “the company is working on flattening our org structure and removing some layers of middle management to make decisions faster.”
Meta has not confirmed the news of the subsequent layoffs yet. Since the “OG Mark” is back, it indicates more job cuts after this round of performance reviews with low ratings.