Tuesday, December 6, 2022
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Here is Facebook (META) CEO Mark Zuckerberg’s letter to the 11,000 employees he Fired

According to a recent article published by The Gateway Pundit, Facebook (META) CEO Mark Zuckerberg said that the company intends to conduct widespread layoffs.

On Wednesday, Zuckerberg published the letter he sent to the 11,000 employees he let go as the holiday season draws near.

Today I’m going to talk about some of the most challenging adjustments that we’ve made throughout Meta’s history. I have made the difficult decision to lay off more than 11,000 of our skilled workers and reduce the size of our team by around 13 percent. We are also taking a number of extra initiatives in order to create a leaner and more efficient organisation. These steps include reducing expenditure on discretionary items and extending our hiring freeze through the first quarter.

I would like to take responsibility for these decisions as well as the path that led us to this point. I am aware that this is difficult for everyone, but my deepest condolences go out to those who are directly affected.

How did we get here?

At the beginning of Covid’s operation, the world was rapidly moving online, and the boom in e-commerce was leading to extraordinary growth in income. There were a lot of people who speculated that this would be a permanent acceleration that would keep going even after the epidemic was over. I had the same sentiment, which is why I came to the conclusion that our investments should be greatly boosted. Sadly, the way I envisioned things turning out was not how it really happened. Not only has internet shopping reverted to its previous tendencies, but the global economic slowdown, greater competition, and advertisements signal loss have all contributed to our income being far lower than I had anticipated it would be. I acknowledge that I am at fault for this error, and I accept full responsibility for it.

Because of the changes in the environment, it is imperative that we improve our use of capital. We have redirected a greater portion of our resources onto a more limited number of high priority development areas, such as our artificial intelligence discovery engine, our advertising and commercial platforms, and our long-term vision for the metaverse. We have reduced expenditures across all aspects of our company, including lowering budgets, cutting back on benefits, and decreasing our overall real estate footprint. In order to improve the effectiveness of our work, we are reorganising the teams. But these changes by themselves won’t bring our spending into line with the growth of our revenue, so I’ve also taken the difficult choice to let some staff go.

How exactly is this going to work?

There is no effective method to carry out a layoff, but we aim to provide you with all of the pertinent information as soon as we possibly can, and we will then do all in our power to help you get through this difficult time.

In the near future, an email will be sent to each person informing them of the implications of the layoff for them personally. After that, any employee who was impacted will have the opportunity to speak with someone, get their questions answered, and participate in educational sessions.

In the United States, some of the particulars include the following:

Severance. We will pay 16 weeks of basic salary in addition to two extra weeks for every year of service, with no upper limit on the total number of weeks that can be earned.
PTO. We will cover the cost of any unused paid time off.
RSU vesting. Every single person who was affected will get their vesting on November 15th, 2022.
Insurance for medical expenses People and their families will not have to worry about the expense of medical treatment during the first six months of this initiative.
Services relating to careers We will give three months of career help through an outside vendor, which will include early access to leads for jobs that have not yet been announced.
Immigration support. I am aware that this is especially challenging for those who are in the country on a visa. Because everyone will have time to make arrangements and work through their immigration situation because there is a notice period before termination and certain visa grace periods. We have immigration consultants that are devoted to helping assist you depending on the requirements that you and your family have.

Similar help will be provided outside the United States, and we will shortly follow up with distinct procedures that take into consideration the employment regulations of the relevant jurisdiction.

Given the quantity of sensitive information that would be left in former employees’ possession, we came to the conclusion that it would be best to revoke their access to the majority of Meta systems. To ensure that everyone has the opportunity to express their goodbyes, we will keep email addresses active throughout the day.

Even while we are cutting back across the board in every company, including Family of Apps and Reality Labs, some teams are going to be impacted more than others. Due to the fact that we intend to hire fewer individuals in the coming year, the recruiting process will be significantly impacted. In addition to this, we are undergoing a more extensive restructure of our business teams. This is not a reflection of the fantastic work that these groups have done in the past; rather, it is a reflection of what we require moving ahead. Over the following several days, the leaders of each group will make plans to meet and discuss what this means for your team at a time that is convenient for them.

The departing members of our staff are extremely brilliant and enthusiastic individuals who have made a significant contribution to both our business and the wider society. I am thankful to everyone of you for the contributions that you have made to the success of Meta. I have no doubt that you will move on to accomplish excellent job in other locations.

What additional adjustments are we going to make?

As a measure that should be used only as a very last option, in my opinion, layoffs have been prioritised below other potential sources of cost reduction. In the aggregate, this will amount to a significant cultural shift in how we carry out our operations. For instance, as part of our effort to reduce our reliance on physical space, we are moving toward a system in which employees who spend the majority of their time away from the office would share desks. In the future months, we plan to roll out further cost-cutting measures similar to this one.

Additionally, we will continue to place a hiring freeze until the first quarter with just a few exceptions. In order to assess whether or not and to what extent we should begin recruiting at that moment, I am going to monitor our company’s financial success as well as its operational efficiency and other macroeconomic aspects. In the event that the economic crisis continues, we will have the capacity to maintain control over our expense structure thanks to this. Additionally, it will set us on the path to create a cost structure that is more efficient than the one that we just detailed to investors.

I am right in the process of conducting an in-depth analysis of the money we are spending on our infrastructure. As we work to construct our AI infrastructure, one of our primary focuses is on maximising the effectiveness of our existing resources. I believe that we will be able to accomplish this goal despite having to reduce our expenditures, since our infrastructure will continue to be an essential advantage for Meta.

Our revenue expectation is lower than we projected at the beginning of this year, and we want to make sure that we are operating effectively across both Family of Apps and Reality Labs. These are the fundamental reasons why we are making all of these adjustments.

How do we take the next step?

There is nothing that can be done to change the fact that this is a miserable time. Those of you who are departing, I want to offer my sincere gratitude for everything you’ve contributed to making this community what it is today. Without your diligent labour, we would not be where we are right now, and I am appreciative of the contributions you have made.

Those of you who have chosen to remain, I am aware that this is a trying moment for you as well. Not only are we parting ways with individuals with whom we’ve collaborated closely, but a substantial many of you are also feeling uneasy about the future. I want you to understand that we are making these choices in order to secure a bright future for our company.

As a business in this day and age, I think that we are grossly underappreciated. Our communities are expanding all the time, and there are billions of individuals using our services to connect with one another. The heart of our company is one of the most successful businesses ever established, and it still has a lot of room to grow. In addition, we are the industry leaders in the research and development of the technologies that will define the next generation of social connections and computing platforms. We carry forth work that is significant throughout history. If we are able to work together effectively, I have no doubt that we will emerge from this economic depression even stronger and more resilient than before.

In the coming weeks, we will elaborate further on how we want to function as a simplified organisation in order to accomplish our aims. For the time being, I will only reiterate how appreciative I am to those of you who are departing because of everything you’ve done to move our mission forward.

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