Meta will be smaller by the end of 2023
But in September, Zuckerberg announced that the company will be smaller by the end of 2023. Recruiters ghosting, offers being rescinded or not offered at all so far. The restructuring is reportedly going to lead to around 12,000 people losing their jobs by the end of next year, thats ~15% of staff.
Officials told directors that at least 15% of their teams should be marked as "needs support" in an internal assessment, aka PIP's for everyone.
Facebook may quietly sack 12,000 employees, 15% of its workforce: report
The Facebook parents decision follows similar moves by other tech majors such as Apple, Microsoft and Google. “I had hoped the economy would have more clearly stabilised by now, but from what we're seeing it doesn't yet seem like it has, so we want to plan somewhat conservatively," Zuckerberg told employees during the weekly Q&A session.