No one is safe from meta CEO Mark Zuckerberg’s perpetual performance measures, not even the company’s top brass.
As of last year, Meta employed an army of 300 vice presidents that now straddle the five levels of seniority that are prime targets of Juke’s performance cuts. Business Insider The report cited three people with knowledge of the company. In previous years, Meta had half the VPs, Business Insider noted, and Zuckerberg reportedly wants to cut that to 250.
The VP slayings come after Zuckerberg first announced 2023 as a “year of performance” last February, resulting in more than 20,000 layoffs that year, according to BI. After seeing employees “work better and faster,” Zuckerberg made the changes permanent and promised a “leaner” operating system that included a flatter hierarchy.
Meta leans on interim performance reviews and formal annual performance reviews, usually conducted in the first quarter, to help identify VPs that may be lagging behind. VPs who don’t measure up to their peers are likely to get the ax through a process called “stack ranking.”
VPs are also under the microscope of their superiors, who are required by company rules to stamp 10% to 12.5% of their reports as non-performing. This tactic may lead to these employees being put on a performance improvement program and then fired.
A spokeswoman for Meta declined to comment Good luck In Zuckerberg’s February Facebook post, he elaborated on Meta’s earnings and said his “efficient year” of changes would become a “permanent part of how we operate.”
Zuckerberg’s productivity measures are in stark contrast to Meta’s growth of 20% to 30% each year. But since Meta began its layoffs last year, it hasn’t stopped, and other big companies have joined in, including Google, Microsoft and Tesla. A total of 250,000 tech workers were laid off last year. layoffs.fyi.
Zuckerberg’s risk in making big job cuts has been rewarded by investors over the past year. There are some researchers Appreciated The CEO’s efforts, including Moffett Nathanson, are honest in a research note wrote: “Mr. Zuckerberg is a capitalist.
