Facebook’s parent company Meta has laid off employees in its business and operations units as part of its final batch of the three-round of layoffs.
According to media reports, these layoffs are part of a plan announced in March to eliminate 10,000 roles. The layoffs at Meta have also included two top Indian executives.Â
According to a report by Reuters, Avinash Pant, the Director of Marketing, and Saket Jha Saurabh, the Director and Head of Media Partnerships have been sacked by the company. The layoffs are due to a restructuring plan.
Many employees in teams such as marketing, site security, enterprise engineering, program management, content strategy, and corporate communications have taken to LinkedIn to share news of their layoffs.
The reports have also included that the company’s layoffs have followed after months of waning revenue growth due to high inflation and a digital ad pullback from the pandemic e-commerce boom.
Earlier, Facebook employees expressed dissatisfaction with the decline in cafeteria options in an effort to reduce costs.
The company has declined facilities including a lack of snacks and cereals at the office, as well as the elimination of free food services and other benefits.
Chief Executive Mark Zuckerberg earlier in February declared 2023 the “year of efficiency.” Following the footsteps, the company will also restart assessing staff performance twice a year.
Additionally, he also said the company’s analysis shows the employees who worked from the office fared better than those who worked remotely.
Mark Zuckerberg said, “As part of our Year of Efficiency, we’re focusing on understanding this further and finding ways to make sure people build the necessary connections to work effectively.”
Earlier, the company had given poor performance reviews to around 7,000 employees. The company has marked the employees as “subpar” in recent performance reviews. The parent firm of Facebook and Instagram also got rid of a bonus metric.
