Meta to Cut Thousands of Jobs as Zuckerberg Signals “Intense Year Ahead”

Meta, the parent company of Facebook, Instagram, and WhatsApp, is set to reduce its global workforce by about 5%, equating to an estimated 3,600 employees. The layoffs, targeting underperforming staff, come as CEO Mark Zuckerberg emphasizes the need for a leaner, high-performing team ahead of what he predicts will be a challenging year.

In an internal memo first reported by Bloomberg, Zuckerberg announced the acceleration of the company's performance evaluation processes. "We typically address performance issues over the course of a year, but this cycle will include more extensive, performance-based adjustments," he stated.

The move reflects a shift in Meta’s management strategy, signaling tighter scrutiny and quicker decision-making around staff performance. Employees in the U.S. are expected to receive layoff notifications by February 10, while those in other regions will be informed in subsequent weeks. Severance packages will be aligned with the company’s prior job-cut policies, Zuckerberg assured.

Focus on Efficiency and Core Technologies

Zuckerberg, 40, described 2024 as a pivotal year for the company, focusing on bolstering efficiency and advancing in critical technological areas, particularly artificial intelligence. "This is going to be an intense year, and I want to ensure we have the best talent driving our priorities forward," he wrote.

While Meta will be laying off staff, the company intends to hire new employees later in the year to fill specific roles, emphasizing its commitment to growth in targeted areas.

Meta’s Strategic Shifts Draw Criticism

The announcement comes on the heels of significant policy changes at Meta, including the decision to scrap third-party fact-checking services and discontinue its diversity, equity, and inclusion (DEI) programs. The removal of fact-checkers, ahead of the potential political resurgence of Donald Trump, has sparked concern among critics, who argue it may open the floodgates for misinformation on Meta’s platforms.

Meta’s focus on user-driven content moderation, in place of external fact-checkers, has drawn sharp criticism from commentators and digital rights groups, who warn of an increased risk of harmful content circulating unchecked.

Financial and Market Implications

Meta’s share price dipped 2.3% on Tuesday, continuing a decline that began earlier in the week. Despite the layoffs and operational changes, Meta remains committed to significant investments in artificial intelligence, a sector Zuckerberg described as housing “some of the most important technologies in the world.”

As Meta navigates this transitional phase, its efforts to streamline operations and prioritize emerging technologies are expected to shape its trajectory in a highly competitive tech landscape.