Meta began notifying employees of layoffs on Monday, launching a process that will lay off thousands of employees to crack down on "low performers" and find new talent to dominate the artificial intelligence race. Meta employees who were fired were notified via email, and the company's severance package for U.S. employees includes 16 weeks of pay, plus two weeks more for every year of service, said people familiar with the matter who asked not to be identified discussing private information.
Eligible employees will still receive bonuses and stock awards, these people said.
In mid-January, reports surfaced that Meta CEO Mark Zuckerberg told employees it would lay off 5% of its workforce, or as many as 3,600 people, with a focus on employees who were "not meeting expectations." Zuckerberg said last month that affected U.S. employees would be notified on February 10, with international employees likely to be informed later.
In a separate message to management, the Facebook co-founder said the layoffs would free up headcount for the company to hire "the best talent."