Employees at Facebook’s parent company, Meta, are ready for layoffs. They expect Meta to lay off up to 10 percent of its workforce this year. The company announced in May that it had suspended hiring in certain departments. Earlier this month it was reported that Meta had cancelled its outsourcing contract for logistics services at its Silicon Valley headquarters, resulting in hundreds of workers being laid off.
Now, in the face of new performance requirements and a tougher market environment, some Meta employees expect the company to lay off up to 10% of its workforce this year. As of March 31 this year, Meta’s workforce totaled 77,805, up from 58,604 in the same period in 2021.
Earlier this month, Meta’s head of human resources, Lori Goler, said in an internal memo that Meta was beginning to operate at “greater intensity. The company will consider layoffs for those employees who do not meet expectations.
Some employees said the looming layoffs felt like a “political witch hunt” because the company wanted to eliminate underperforming employees.
One Meta employee told the media, “The layoffs haven’t started yet, but it’s coming.”
Meta will report its second-quarter 2022 earnings on Thursday, GMT. Analysts expect Meta to report “zero sales growth” in the second quarter, the first time since the company’s IPO a decade ago. Net income is expected to decline 33 percent year over year.