Details: Meta is set to lay off 3,000 employees, equal to 5% of its workforce, starting Monday, specifically targeting low performers. Affected staff will be notified via termination emails at 5 AM local time and lose system access within an hour. Notably, employees in Germany, France, Italy, and the Netherlands will be spared from these cuts.
Implications: This restructuring mirrors a prevailing trend in the tech industry post-pandemic, focusing on optimizing the workforce. Simultaneously, Meta is ramping up hiring for AI and machine learning roles. This strategic shift has significantly contributed to the company's market value growth exceeding $1 trillion since 2023.