Meta managers gave approximately 10% of employees ratings indicating they are underperforming, the people said. That proportion wasn’t unprecedented in the years before the pandemic. But Meta’s employee count nearly doubled from 2019 to 2022, to 86,400, and about half its workers had never experienced a typical performance-review cycle at the company, several people familiar with the matter said. “We’ve always had a goal-based culture of high performance, and our review process is intended to incentivize long-term thinking and high-quality work, while helping employees get actionable feedback,” a Meta spokesman said. The recently wrapped performance reviews were seen as a return to form for Mr. Zuckerberg, who before the pandemic had developed a reputation for delivering direct feedback to workers, people familiar with the process said. One former worker described the process as a return to “OG Mark” or “old school Zuck.” “We’re working on flattening our org structure and removing some layers of middle management to make decisions faster as well as deploying AI tools to help our engineers be more productive,” Mr. Zuckerberg told investors earlier this month. Meta managers gave approximately 10% of employees a rating of “meets most,” people familiar with the matter said. There are five possible ratings at Meta, and “meets most” is the second lowest. The lowest—“meets some”—is rare, the people said. Workers who receive two “meets most” ratings in a row are placed on performance improvement plans, and those who receive ratings lower than that are automatically placed on an improvement plan, some of the people said. Within Meta, some employees take such a rating as a sign to look for new work opportunities, these people said. https://www.wsj.com/articles/og-mark-returns-at-meta-as-facebook-parent-gives-thousands-of-staff-subpar-reviews-56e648b4 #microsoft
Loading Layoffs …. 98% …..
What’s new ? Amazon doing this 10% thing forever
What is new in this article? Every year (previously every half) there's performance review where thousands of employees get low ratings
The article says Meta will do additional layoffs in March if there isn’t enough natural attrition caused by 10% Meets Most and 15% bonus reduction “Meta’s leadership expects the ratings to lead more employees to leave in the coming weeks, the people said. The company will consider another round of layoffs if not enough depart, the people said. “
The new round of layoffs seems to be just hypothetical at this point, and such hypothesis also isn't anything new
I hate conspiracies but this whole lay offs is making me wonder if this is all planned by the ceo and cto’s including FED’s.
You know that not every word ending with an s requires an apostrophe right?
It is
The point here is that they are introducing AI to make engineers more efficient. This will lead to less required headcount and a lot more layoffs. In a recent internal article from a company that I won’t name, it mentioned that they are building models trained on their own GitHub repo and consume gpt api to generate code that is specific to their environment.
Or it's just they grew more than needed during the pandemic, and the current global economic downturn has badly exposed that. There's no evidence that tech workers are being replaced en masse with AI.
What’s reason for not naming company? Layoffs proved most of them are like PMCs. Instead of militants they kill employees for higher bottom lines. Figuratively and literally @RenfielD AI is capable of replacing techies en masse too. Not long ago Pichai too asked for AI regulation but guess running a marathon for profits changed his view https://www.financialexpress.com/lifestyle/science/are-jobs-humans-under-threat-from-ai-googles-sundar-pichai-says-there-is-need-for-regulation-as-fear-very-legitimate/1414623/
MM found 🤣
Gaslighting tactic instead of just doing layoff
It’s either this type of gaslighting or the “I take full responsibility” type
I'm oretty sure it's done to make sure they can't get sued for unlawful termination etc
I was told in blind by someone that the bottom two buckets will get 14%.
Honestly when you step back from our tech world and look at the life we live, especially Meta that literally treats employees like rockstars or professional athletes, it makes sense for the performance review to be stringent. Meta's employee count seems way too high. That being said, I don't want anyone to get laid off.
All of us in big tech live really cushy lives. Or should be able to if you know how to manage your money. But yes, layoffs suck. Nobody wants to leave a cushy life.
I think this is a phenomenon observed only in the west coast of the United States. Here in London, UK one struggles to get by raising a family of four on an E5 or even E6 TC
Is there an equivalent laughing Zucc
Nightmare fuel. 😂