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Facebook May Fire 12,000 Employees: Report

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Facebook May Fire 12,000 Employees: Report
08 Oct 2022
min read

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News Synopsis

The decline in ad spending is seriously affecting the top tech companies throughout the globe. For this reason, the meta platform is very discreetly firing Facebook in an effort to cut costs. A news agency said that executives urged the company's directors to classify them as "Need of Support" at their bare minimum before a recent weekly quiz between employees and CEO Mark Zuckerberg. There should be at least 15% of the teams chosen. 12,000 employees may lose their jobs following this process.

The report claims that "Meta Worker on the Blind" posted last week about the possible layoffs. 15% of the employees, according to the individual debating the firing, would likely be placed on a PIP (Performance Improvement Plan) before perhaps being let go. Employees whose performance falls short of the benchmark goal have been classified as needing support in Facebook's employee review process. Such employees are put on the Performance Improvement Plan (PIP), and frequently those who are covered by it are not retrenched.

Despite the fact that many employees are viewed as underperforming, many are given 30 days to find other positions with the company or are forced to leave. According to rumors, Meta is quietly making layoffs. Due to concerns about a global recession, Meta last week put a freeze on employment. Meta's decision was influenced by major tech companies like Apple, Microsoft, and Google. To control costs, all of these large tech companies have frozen hiring and begun providing their staff with pink sleep.

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