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Know-how firms have introduced tens of 1000’s of job cuts this yr. Judging by Meta’s newest efficiency evaluations, the wave of layoffs may not be over but. 

Meta handed out 1000’s of subpar scores to staff and lower a key bonus metric in a current spherical of efficiency evaluations, The Wall Road Journal reported, citing individuals conversant in the matter. 

Workers would possibly take the trace to maneuver on or Meta may implement one other spherical of cuts, based on the WSJ.

“Nothing about this yr’s efficiency evaluate course of has modified or is totally different than what we’ve already communicated to staff,” a Meta spokesperson mentioned in an emailed assertion.

Final yr Meta mentioned it could lay off about 11,000 staff or 13% of its workforce. CEO Mark Zuckerberg adopted that up by saying earlier this month that the corporate would take away some layers of center administration because it focuses on making 2023 a “yr of effectivity.” 

Meta shares have been down 0.5% in early buying and selling on Friday. 

Tech trade executives present little signal of easing off on layoffs. On Thursday, electronic-signature agency

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mentioned it could lower round 10% of its workforce, or 700 workers, in its second spherical of layoffs in a matter of months. 

Near 108,000 layoffs have been introduced by 377 tech firms in 2023 to date, based on Layoffs.fyi, a web site which tracks information of job cuts.

Write to Adam Clark at [email protected]