Heard from an ex-colleague who is L7 at META.
Every director and above is given a target to reduce staff by 10% - 15%. If they meet 15% and keep the productivity alive then raise for some directors.
Employees will start receiving emails on improvement plan along with an option to resign starting next week.
RIP META. F*** ZUCK.
All bragging about their TC a few years ago and now this. Meta won't be the last of the big FAANGS to humble some of their godly software engineers this coming downturn.
It's going to become a zero sum game internall too. And in this new tech cycle they will have one of the worst company names to have on your CV.
Employees will start receiving emails on improvement plan along with an option to resign starting next week.
Nice to know they are being flexible about it.
15% is just for starters. Nobody really believes that will be the only reductions. I mean FB's biz model isn't going to recover overnight, if ever.
But the good news is it's FB, so no great loss.
10-15% ain't that bad.