Facebook 12k employees likely to lose jobs amid quiet layoff: Report

Meta Platforms is laying off approximately 12,000 employees, or 15 per cent of its workforce, at Facebook as the social media behemoth struggles with declining revenue amid a global economic downturn.

Meta CEO Mark Zuckerberg announced late last month that the company was freezing hiring and would "steadily reduce headcount growth over the next year."

According to reports, Zuckerberg has told directors across the company board that at least 15 per cent of their team should be labelled as "needs support."

The potential layoffs were revealed last week in a post by a Meta employee on Blind, an app popular among techies that requires an authentic company email address to use anonymously, according to the report.

"These 15 per cent will most likely be put on PIP (performance improvement plan) and let go," according to reports. Adding that management is already telling those who have been 'PIP-ed' to look for work elsewhere. "They may appear to be moving on, but the reality is that they are being forced out."

During a weekly staff Q&A, Zuckerberg said, "I had hoped the economy would have more clearly stabilised by now... But, based on what we're seeing, it doesn't appear to have happened yet, so we want to plan cautiously."

Many large corporations have reduced their workforce in response to geopolitical uncertainty and the rising global recession risk. Apple, Microsoft, and Google have all slowed or begun to reduce their workforces to reduce costs and maintain operating margins.

According to Crunchbase data, more than 32,000 tech workers were laid off in the United States in late July.

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• Facebook
• Mark Zuckerberg
• Meta