Live tv
search
  1. You Are At:
  2. English News
  3. Technology
  4. After Netflix and Spotify, Meta plans to layoff: Why?

After Netflix and Spotify, Meta plans to layoff: Why?

At Meta, the managers have been asked to identify and "move to exit" the poor-performing employees of the company. The decision has been taken because the company is struggling with macroeconomic pressures and hitting its advertising business.

Saumya Nigam Edited By: Saumya Nigam Noida Published on: July 13, 2022 18:30 IST
Fired
Image Source : FREEPIK Fired

Meta is likely looking forward to bidding goodbye to a few employees, amid recession fears as a media report states. The company has been asking the managers to identify people for layoffs.

As per The Information, Meta's Vice President of Remote Presence and Engineering- Maher Saba has asked the managers to identify and "move to exit" the poor-performing employees of the company. The decision has been taken because the company is struggling with macroeconomic pressures and hitting its advertising business.

In a post to Meta's internal messaging system, Saba, who has been with Meta for eight years, told managers to think about the value their team members bring to Meta.

"If a direct report is coasting or a low performer, they are not who we need; they are failing this company," Saba was quoted as saying.

"As a manager, you cannot allow someone to be net neutral or negative for Meta," Saba added.

Managers should identify people on their team who "need support" by 5 p.m. on Monday and "move to exit people who are unable to get on track," the post said.

Representatives for Meta, including Saba, did not respond to requests for comment by the website. Meanwhile, the company recently warned employees to expect a tough second half of the year.

Recently, Meta chief product officer Chris Cox detailed the company's financial dilemma in an internal memo that detailed key areas where the social media giant plans to invest.

Cox reiterated statements made by Meta CEO and co-founder Mark Zuckerberg during a call with analysts as part of the company's first-quarter earnings report.

He added that the company is in "serious times here and the headwinds are fierce," underscoring that its challenges aren't likely to vanish anytime soon.

Inputs from IANS

Latest Technology News

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Technology