San Francisco, June 14: The next round of Meta layoffs is just about to hit senior employees working at the Mark Zuckerberg-run company. This time, Meta plans to sack vice presidents from the company due to restructuring. According to reports, the Meta layoffs will reduce the around 50 vice presidents (VPs) in the company. 

Mark Zuckerberg-run Meta's incompetent VPs would be next in the line to get laid off, according to the report by Fortune. The report further highlighted that Meta appointed 300 vice presidents across the five levels of seniority last year, who would now be the prime target of the upcoming Meta layoffs. First reported by Business Insider, the report said that Meta CEO Mark Zuckerberg wanted to cut 50 VPs maintaining 250 individuals onboard. X Layoffs: Employees at Elon Musk-Owned Company Fear About Potential Job Cuts Amid Delayed Performance Review, Says Report.

According to a report by Fortune, the Meta VP layoffs were announced after Mark Zuckerberg declared 2023 as the "year of efficiency" in February. It resulted in 20,000 layoffs that year, and after witnessing employees execute better and faster, Meta's CEO made the changes permanent. Further, he reportedly promised a leaner operating structure with a "flatter hierarchy". 

Meta's approach to the VP layoffs involves a 'slack ranking' process, where underperforming VPs are identified. The job cuts are based on midyear and annual performance reviews, primarily conducted in the first quarter. The report highlights that superiors are required to mark 10% to 12.5% of VPs as 'underperforming', leading to their potential layoff. 

Using this tactic, the company will likely put these employees under a performance improvement plan and lay them off. The tech layoffs reportedly hit over 2,50,000 employees from big names like Google, Microsoft, Tesla, Amazon, and others. Meta started laying off its employees in 2023 and is still continuing with more employees in different positions and departments. FedEx Layoffs: US-Based Delivery Giant To Cut Up to 2,000 Jobs in Europe To Save Structural Costs Amid Decline in Global Shipping Demand. 

Last year, the reports said that Meta sacked 300 individuals from VP positions, and 180 more were laid off in the following months. Now, the number is expected to be around 50. In April 2024, Meta Oversight Board layoffs were announced by Mark Zuckerberg-run company to save costs and optimise operations to prioritise the most impactful aspect of work, according to a report by The Washington Post.

(The above story first appeared on LatestLY on Jun 14, 2024 11:52 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website