Why is Mark Zuckerberg firing employees in Meta ahead of FY2025?

Mark Zuckerbergis planning to fire 5 per cent of the Meta workforce which will come under the category of "poor performers". The company, which owns Facebook, WhatsApp, and Instagram, has 72,000 people working globally which means around 3,600 people will be affected by the plan. The company further said to hire new employees in the year 2025

In a memo to staff, Meta CEO Mark Zuckerberg said that he has decided to "move out low-performers faster" as 2025 would be an "intense year." He said the decision will help accelerate Meta's usual performance management system.

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The US employees who will be affected by the decision will be notified by February 10, while those outside the US will be told later.

In his memo, Zuckerberg said he has decided to "raise the bar" on performance. Bloomberg was the first to report on the memo.

He further said that although the company "typically" manages out people who are not delivering up to the expectation, this time the company is "going to do more extensive performance-based cuts during this cycle". The 40-year-old added that he wants the "best people" in his team this year.

The termination plan will be implemented for staff who have spent long enough in the organisation to assess performance. Zuckerberg further added that Meta would “provide generous severance” for those who would lose their jobs as per this plan.

The job announcement came after Zuckerberg faced massive backlash for scrapping third-party fact-checkers who used to flag misleading content. The company said it was to prioritise free speech. Experts have raised that the decision would boost harmful content on the platforms by Meta.

Due to the decision, Meta faced a 2.3 per cent fall in its shares on Tuesday (Jan 14).

(With inputs from agencies)