Months after Meta handed out pink slips to nearly 11,000 employees, reports came that thousands of its employees have received poor performance reviews from the firm, raising fears that the tech giant may come up with a fresh round of layoffs.
as reported by wall street journalNearly 7,000 employees were ranked ‘subpar’ by Meta in the most recent round of performance reviews. It added that the company has also removed the bonus metric.
Read also: Meta delays budget as more layoffs coming soon: Report
A source told The Wall Street Journal, “The lower rating could lead to more employees exiting Meta.”
“We’ve always had a goals-based framework of high performance, and our review process aims to encourage long-term thinking and high-quality work while helping employees receive actionable feedback,” the WSJ quoted a Meta spokesperson as saying. To do.”
Earlier in November, Meta laid off 13% of its workforce and CEO Mark Zuckerberg apologized for the job cuts and took accountability for the move. This was the first layoff in the history of the company formerly named Facebook.
catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.