One former Meta employee told The Daily Upside that pre-pandemic, twice-annual reviews were the norm, but the company changed to once-a-year reviews in the name of. But to employees, it might seem like an ever-so-slight U-turn.Īs well as cutting some bonuses, the memo said employees will now have to undergo evaluations twice a year, rather than once. Monday's memo to managers said cutting bonuses was part of a "continued focus on maintaining a high-performance culture," which fits into Zuckerberg's new cutthroat approach to efficiency. With macroeconomics battering every industry, the previously abundant tech job market began to wither, and in February, Zuckerberg declared 2023 to be Meta's "Year of Efficiency." So far, that has involved 21,000 job cuts plus the loss of perks including free laundry, which has nothing to do with whistleblowers airing all of Meta's dirty laundry. Meta was the first of the Big Four tech companies to start slashing staff and was a harbinger of a wider trend. The Meta CEO told staff in July 2022 that he would be "turning up the heat a little bit." We shiver to think what turning up the heat a lot would look like. This is the latest chapter in Mark Zuckerberg's quest for efficiency. The company formerly known as Facebook sent a memo to managers on Monday telling them it's cutting bonus payouts from 85% to 65% for employees who fit into the "met most expectations" bracket at their annual 2023 review, The Wall Street Journal reported. Meta staff left standing after a brutal round of layoffs are experiencing whatever feels like the opposite of survivor's guilt. It's completely free and we guarantee you'll learn something new every day. For more crisp and insightful business and economic news, subscribe to
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