Meta is allegedly rolling out "quiet layoffs" at Facebook that could result in losing thousands of jobs, at least 12,000, or roughly 15% of its workforce. Senior executives are allegedly carrying out "quiet layoffs" of underperforming employees, according to a report in Insider.
According to several employees who spoke to Insider, up to 15% of the workforce may be laid off in the coming weeks. This implies that 12,000 workers may soon lose their jobs.
"It might look like they are moving on, but the reality is they are being forced out," the employee told Insider.
Facebook employees have been bracing for layoffs since the social networking giant announced a hiring freeze.
Meta Founder and CEO Mark Zuckerberg has clarified that the social network is freezing hiring across the board, warning that more layoffs are in the pipeline.
During the last Meta earnings call, Zuckerberg mentioned, "We plan to reduce headcount growth over the next year steadily. Many teams will shrink so that we can shift energy to other areas."
In May, Zuckerberg announced a hiring freeze affecting specific segments of Meta.
Meta has a "long practice" where employees whose roles are eliminated are subject to termination if they can't find a new job internally within a month.
Zuckerberg stated in July that the company's strategy is to gradually reduce headcount growth over the coming year as big tech companies lay off employees and freeze fresh hiring.
Admitting that the social network has entered an economic downturn that will broadly impact the digital advertising business, Zuckerberg said that many "teams are going to shrink so we can shift energy to other areas inside the company"."?
(With IANS inputs)
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