![]() Outside the US, support will be similar, and we'll follow up soon with separate processes that take into account local employment laws. We have dedicated immigration specialists to help guide you based on what you and your family need. There's a notice period before termination and some visa grace periods, which means everyone will have time to make plans and work through their immigration status. I know this is especially difficult if you're here on a visa. We'll provide three months of career support with an external vendor, including early access to unpublished job leads. We'll cover the cost of healthcare for people and their families for six months. Everyone impacted will receive their Novemvesting. We will pay 16 weeks of base pay plus two additional weeks for every year of service, with no cap. But these measures alone won't bring our expenses in line with our revenue growth, so I've also made the hard decision to let people go. We're restructuring teams to increase our efficiency. We've cut costs across our business, including scaling back budgets, reducing perks, and shrinking our real estate footprint. We've shifted more of our resources onto a smaller number of high priority growth areas - like our AI discovery engine, our ads and business platforms, and our long-term vision for the metaverse. In this new environment, we need to become more capital efficient. I got this wrong, and I take responsibility for that. Not only has online commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I'd expected. Unfortunately, this did not play out the way I expected. I did too, so I made the decision to significantly increase our investments. Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I know this is tough for everyone, and I'm especially sorry to those impacted.Īt the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth. I want to take accountability for these decisions and for how we got here. In March, Zuckerberg hinted that he was going to update Meta's policy when he said that the company conducted an internal analysis that showed engineers who work in person "get more done.Account icon An icon in the shape of a person's head and shoulders. Since then, however, many companies like Amazon and Google parent Alphabet have been reversing course on previous remote-work plans and have called on their workers to return to physical offices at least three days a week. At the time, Meta CEO Mark Zuckerberg said the company learned over the course of the year during the height of the Covid pandemic that "good work can get done anywhere, and I'm even more optimistic that remote work at scale is possible, particularly as remote video presence and virtual reality continue to improve," Zuckerberg said at the time. Tech news publication The Information first reported about Meta's updated work-from-home policy.įacebook parent Meta first extended its remote-work policy to all full-time employees in June 2021. "We're also committed to continuously refining our model to foster the collaboration, relationships and culture necessary for employees to do their best work." "We're committed to distributed work, and we're confident people can make a meaningful impact both from the office and at home," a Meta spokesperson said in a statement. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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