11:00 AM EST, 01/14/2025 (MT Newswires) -- Meta Platforms ( META ) plans to eliminate roughly 5% of its lowest performers with the goal of backfilling the positions in 2025, Bloomberg News reported Tuesday, citing a memo sent to employees by Chief Executive Mark Zuckerberg.

"I've decided to raise the bar on performance management and move out low-performers faster," Zuckerberg reportedly said. "We typically manage out people who aren't meeting expectations over the course of a year, but now we're going to do more extensive performance-based cuts during this cycle."

Meta didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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