In a weekly interaction with employees, Mark Zuckerberg, CEO, Meta, which owns Facebook, has indicated that the Company will up the heat in terms of performance reviews.
Zuckerberg made it clear that there are some people in the company who are not able to meet their targets and that such people should realistically not be present in the company. Zuckerberg further mentioned that the company will need to be more strict in terms of employees meeting their targets and hinting that non-performers should realise that Facebook is probably not the place for them.
The CEO has indicated that the company will henceforth strictly measure the performance of the employees and will set higher expectations, and that even if this results in some voluntary attrition, he was ready to accept it. He further said that it is time for the Company to become ruthless so that it operates efficient executing teams that are leaner and truly productive.
This communication clearly sounds like a warning to all employees who are not meeting company expectations to brace themselves and be prepared to be fired for non-performance.
The Company has reportedly slashed its hiring goals for engineers this year by 30 per cent. On an average Facebook was hiring 10,000 engineers, but this year, it plans to hire only 5000 to 6000 engineers.
Also, for the first time, Facebook has seen a decline in users last quarter and ad revenues have also taken a big hit.