Meta Likely To Announce Layoffs In March

| Updated: February 24, 2023 5:31 pm

As early as next month, once the performance bonuses are paid out, Meta (previously Facebook) is expected to announce another significant round of layoffs, similar to the one it announced in November of last year.

The leadership of Meta, according to the weekly newsletter, “has been quiet both internally and externally about what is coming.” The report said late on Thursday that the upcoming layoffs can be “somewhere in the ballpark of the last layoff, which was about 11,000 people or 13 percent of the company”.

The social network’s current strategy is to “announce additional layoffs in March after last year’s performance bonuses have been handed out.” In the most recent round of performance reports, Meta apparently gave “subpar scores” to hundreds of employees.

The media outlet stated last week that the Meta leadership “expects the ratings to lead additional staff to resign in the coming weeks,” citing sources with knowledge of the situation.

If not enough employees leave, “the company will consider another round of layoffs,” the report states. The company is “working on flattening our organisational structure and reducing some layers of middle management to make decisions faster as well as deploying AI capabilities to assist our engineers be more productive,” Zuckerberg told investors last month.

Meta is preparing to cut staff even more during its “year of efficiency” after terminating 11,000 employees in November of last year.

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