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Mark Zuckerberg plans to lay off an additional five percent of Meta's workforce

Meta is reportedly set to cut around five percent of its workforce. CEO Mark Zuckerberg said that the company will lay off the lowest performers.

“I’ve decided to raise the bar on performance management and move out low-performers faster,” Zuckerberg said in the memo. “We typically manage out people who aren’t meeting expectations over the course of a year, but now we’re going to do more extensive performance-based cuts during this cycle.” Bloomberg suggested that the forthcoming pink slips will focus on people “who have been with the company long enough to receive a performance rating.”

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