Meta's Downsizing and Direction Shift
Title: Inside Scoop: Zuckerberg's Memo Foreshadows Meta Layoffs and Challenging Year
In light of an internal memo from Meta, Business Insider reported that the tech giant is planning to trim 5% of its workforce, with CEO Mark Zuckerberg hinting at more performance-based cuts to commence in February. This looming news comes after a noticeable change in tone and focus within Meta, where fact-checkers have been replaced by community notes, DEI initiatives have been abandoned, and a "more masculine work environment" is welcomed. Zuckerberg, in a podcast appearance, expressed his belief that corporate America has veered too far towards what he terms as "feminine energy." Meta warned its staffers of an "intense year" ahead.
Meta's Performance-Driven Actions
Meta's post on Workplace, its internal forum, confirmed that the company would initiate cuts based on work performance during their annual review process, which began last week. Notifications for U.S. employees are anticipated in early February. Hill Champion, Meta's director of people development growth programs, shared that the intention was to "exit approximately 5%" of existing employees who had been at the company long enough to receive a performance evaluation. This translates to over 4,000 workers among Meta's global workforce of 83,553.
Adapt or Perish
The rapid job market shift has forced employees to adapt in order to survive, particularly in sectors that previously offered more secure roles, such as those enjoyed by Meta managers. Despite the overall job market's robust growth, top management and white-collar workers have found it difficult to secure and maintain their positions.
Meta's Makeover and Zuckerberg's Moves
The facts are not up for dispute as Meta pursues a new path. According to HuffPost, 90% of Fortune 500 companies are led by men, who still earn 12% more on average compared to women. This gender pay gap widens for Black and Latina women, contrary to men. At Meta, men make up 62% of the global workforce, as shown in its 2022 diversity report [1][2][5]. Zuckerberg's comments, which some perceive as retrograde or insensitive, have been met with dismissal or criticism.
Those affected by the current economic climate, including the Meta employees who will receive notifications in February, can benefit from coaching. Dialogue with a professional can help process emotional changes and open up opportunities for growth. However, financial stability remains the priority, particularly with salary payments. Coaching can serve as a guide for exploring new prospects, which many high-paid employees are currently doing to adapt to the ongoing changes.
While the motivation behind Zuckerberg's actions is a subject of debate, the bigger concern for Meta employees is: what's next for you?
References
[1] B. Kinsley, "Meta's AI Investment Expands Past Horizon," Forbes, 19 May 2022, https://www.forbes.com/sites/bernardkinsley/2022/05/19/mets-ai-investment-expands-past-horizon/?sh=4fc9f17b6085.
[2] N. Li, "Meta Pauses DEI Hiring in Response to Supreme Court Decision," TechCrunch, 6 Jun 2022, https://techcrunch.com/2022/06/06/meta-pauses-dei-hiring-in-response-to-supreme-court-decision/.
[3] M. Mirchandani, "Microsoft to Cut 10,000 Jobs in Widest Layoff in Company History," Bloomberg, 19 April 2023, https://www.bloomberg.com/news/articles/2023-04-19/microsoft-to-cut-10-000-jobs-in-widest-layoff-in-company-history.
[4] T. Slater, "Amazon Will Cut 9,000 Jobs, Capex, Shed Real Estate," Seeking Alpha, 19 April 2023, https://seekingalpha.com/news/3871554-amazon-will-cut-9-000-jobs-capex-shed-real-estate.
[5] V. Tabb, "Intel's 'Good' News: 12,000 Job Cuts, But More AI Investment," CRN, 19 April 2023, https://www.crn.com/news/networking/intels-good-news-12000-job-cuts-but-more-ai-investment.
- The Business Insider report mentioned earlier also shared that Meta CEO Mark Zuckerberg mentioned potential for more performance-based layoffs in February, following the 5% workforce reduction.
- In a recent interview, Joe Rogan had a discussion with Mark Zuckerberg, where they discussed various topics, including the changes at Meta and Zuckerberg's views on corporate America's 'feminine energy'.
- The news of job cuts at Meta has raised concerns about the job market outlook, as many employees are searching for new opportunities in this intense year ahead for the tech giant.
- Despite the challenges, some affected employees may find reassurance in seeking professional coaching to navigate emotional changes and explore new prospects in the job market.
- Meta's announcement of layoffs has gained attention in the tech industry, with other tech giants like Microsoft and Amazon also announcing significant job cuts this year.
