After claiming that layoffs will be used as a last resort, Meta executives have just instructed directors to place at least 15% of their team on performance improvement plans (PIPs). This move is likely to affect around 12,000 workers across the company.
The plans, which are referred to internally as “30-day lists” give employees a month to find a new role in the company. But according to sources from inside the company, being placed on the list is more likely than not akin to being let go.
Just like fellow tech company Google, Meta has also implemented a hiring freeze to brace itself against a potential downturn. But as the firm deals with its lowest period of trading since 2019, it appears that more radical action needs to be taken, unfortunately at the expense of company employees.
tech.co/news/meta-layoff-12000-employees
h/t CharlieFoxtrot