Meta Platforms Inc. plans to cut approximately 5% of its workforce, around 3,600 employees, through performance-based terminations, with affected U.S. employees to be notified on February 10. CEO Mark Zuckerberg emphasized raising performance standards to remove low performers faster, aiming to ensure the company retains "strongest talent" while creating room for new hires. The terminations follow Zuckerberg's "year of efficiency" declaration in 2023, during which 10,000 jobs were eliminated. In addition to these changes, Meta anticipates its headcount will decrease by 10% by the end of this performance cycle, factoring in attrition. The company plans to focus on artificial intelligence, smart glasses, and social media advancements amid an "intense year" of strategic priorities. Continue here.
