In a recent meeting with Meta employees, CEO and billionaire Mark Zuckerberg was not able to hide his annoyance with an employee who asked him about vacation days.
The meeting was set in order to reveal his plans to remove underperforming workers in the company.
Zuckerberg's Reaction to Vacation Question
According to New York Post, during a companywide Q&A meeting on June 30, Zuckerberg warned a recent market slump might be one of the worst downturns that the company has seen in recent history, and he explained the reasoning behind the cost cuts.
During the meeting, Zuckerberg reportedly appeared "frustrated" after an employee asked whether Meta Days or extra time off introduced during the COVID-19 pandemic would continue in 2023.
According to The Verge, Zuckerberg also revealed that Meta would be implementing higher standards for all of its employees, and the company will be cutting ties with anyone who won't be able to meet the new performance threshold.
Also Read : Facebook's Parent, Meta, Requires Employees to Get COVID-19 Booster Shot for Office Work Return
Zuckerberg has stated that, realistically, there are a lot of employees at Meta "who shouldn't be there." He added that part of his hope by raising expectations and having more aggressive goals is that some employees might decide that "the company isn't for them" and that he is fine with "self-selection."
Meta has enacted a hiring freeze and other cost-cutting measures as it contends with several downturns in the market and invests in an expensive shift toward the metaverse. The tech giant's stock is down 50% in 2022.
Meta Slows Down the Hiring
On June 30, Zuckerberg said during a meeting that Meta would slow its hiring plans for engineers by 30% in 2022, adding roughly 6,000 or 7,000 workers instead of the 10,000 that it first projected. Some empty roles will not be filled yet.
Zuckerberg's recent open declaration that workers were on the chopping block immediately drew stunned reactions and criticisms from some of the attendees of the meeting, according to the Independent.
The billionaire said that Meta did not plan to implement any layoffs but had not yet ruled them out completely.
Meanwhile, a Meta representative, Joe Osborne, downplayed Zuckerberg's comments in a statement.
The representative said that any company that wants to have a "lasting impact must practice disciplined prioritization" and that they should "work with a high level of intensity to reach their goals."
Osborne added that the reports about the efforts of Meta are consistent with their focus and what the company has already shared publicly about its operating style.
Meanwhile, employee faith in Meta's management has plummeted as the tech giant contends with market-related challenges as well as ongoing scrutiny from lawmakers over its strict business practices.
An internal survey said that 39% of Meta employees were optimistic about the tech giant's future, while only 42% had confidence in leadership.
Meta's plunging stock price in early 2022 after a downturn in users led some employees to gripe about wanting to change jobs, citing concerns that the company's performance was affecting their stock options.
Dave Wehner, Meta's CFO, acknowledged the turnover has stepped up since what the company experienced during the pandemic, though he noted that it was still broadly consistent with levels that they had seen pre-pandemic.
This article is owned by Tech Times
Written by Sophie Webster
