Meta Workforce Reduction Announcement

Meta has officially revealed plans to reduce its workforce by 10% on April 23, which will affect nearly 8000 employees throughout various divisions. In addition to this workforce reduction, Meta will also be closing over 6000 job openings. Discussions regarding this workforce cut have been underway for several weeks and have been reported by multiple media outlets. Recently, the company shared an internal memo, accessed by Bloomberg, confirming the situation to its staff while increasing its investment in artificial intelligence.

More troubling news is that Meta intends to conduct two additional rounds of layoffs, with one confirmed for May and another anticipated later this year, potentially impacting another 10% of its workforce.

Important Update: Microsoft Restructuring

Microsoft has also provided an exit option to thousands of its employees and is undergoing a revamp of its pay and reward system.

Internal Memo from Meta’s Leadership

Recently, Meta’s leadership communicated with employees through the following memo:

The memo expressed that over the past few weeks, the company has been deliberating significant changes that would result in the layoff of around 10% of the workforce on May 20, alongside the closing of approximately 6,000 positions. The leadership acknowledged that the information was shared prematurely, but they felt it was essential to inform employees amid the leaks. They recognised that this news may be distressing, but they believe it is necessary for the company’s future.

The memo further elaborated that the layoffs are part of an ongoing effort to operate more efficiently and to balance the investments being made in other areas. It was highlighted that these decisions are difficult and involve letting go of individuals who have contributed greatly to Meta.

To assist those affected, Meta will offer a comprehensive severance package, which will include 16 weeks of base pay in the US, along with two additional weeks for each year of service. Furthermore, the company will cover COBRA health care costs for US employees and their families for 18 months. Severance packages for those outside the US will be comparable but may vary by country, including local timelines and processes. Career services and immigration assistance will also be available to support affected employees in their next steps. Further details will be shared in an upcoming post before May 20.

In terms of notifications, the company will adhere to its established procedure: on May 20, employees who are impacted will receive notifications via both work and personal email accounts. Employees are reminded to ensure their personal email addresses are updated in Workday.

The memo acknowledged that this situation leaves employees in a state of uncertainty for almost a month, which is understandably troubling. The leadership will attempt to address questions in the comments section, but further details will not be available until later in May. Meanwhile, additional information, including standard FAQs and logistical details, can be found on the People Portal.