• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

New York City women are making up to $30,000 per month by renting out their closets to strangers

2

Why did a $154 billion CEO just endorse stripping most Americans of voting rights—and taking us back to the 19th century?

3

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

1

New York City women are making up to $30,000 per month by renting out their closets to strangers

2

Why did a $154 billion CEO just endorse stripping most Americans of voting rights—and taking us back to the 19th century?

3

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
TechMeta

Meta just gave thousands of employees poor performance reviews that could clear the way for more layoffs during its ‘Year of Efficiency’

By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
February 17, 2023, 10:45 AM ET
A new round of performance reviews has set off fears of more layoffs at Meta.
A new round of performance reviews has set off fears of more layoffs at Meta. David Paul Morris—Bloomberg/Getty Images
Add Fortune on Google for similar content.

Just months after Meta laid off 11,000 employees, there are signs the company could be preparing for another wave of cuts.

The parent company of Facebook and Instagram has reportedly ranked thousands of employees as “subpar” in a recent wave of performance reviews. And that’s raising fears among workers that more belt-tightening is on the way.

Those concerns come after CEO and founder Mark Zuckerberg declared 2023 a “year of efficiency” at the company on an earnings call at the beginning of February. Meta also did away with a bonus metric, the Wall Street Journal reports.

Managers gave about 10% of the company’s workers poor reviews. It is, in some ways, a return to Meta’s pre-pandemic review process, where Zuckerberg was said to be less than gentle with his assessments of workers.

The threat of additional layoffs comes just days after the company delayed finalizing budgets. Zuckerberg, in a Facebook post earlier this month, wrote “We’re working on flattening our org structure and removing some layers of middle management to make decisions faster, as well as deploying AI tools to help our engineers be more productive. As part of this, we’re going to be more proactive about cutting projects that aren’t performing or may no longer be as crucial.”

Seemingly safe from the cuts is Meta’s metaverse division. While Horizon Worlds has failed to engage users, including some who work at the company, and the Reality Labs division was responsible for $13.7 billion in losses last year, Zuckerberg remains committed to it.

Other divisions do not seem to have that protected status.

“We closed last year with some difficult layoffs and restructuring some teams.,” Zuckerberg said in his post. “When we did this, I said clearly that this was the beginning of our focus on efficiency and not the end.”

Learn how to navigate and strengthen trust in your business with The Trust Factor, a weekly newsletter examining what leaders need to succeed. Sign up here.

About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Tech

No. 1 on the Fortune Global 500: Amazon’s Jeff Bezos on how his garage startup became the largest company in the world by revenue
MagazineAmazon
No. 1 on the Fortune Global 500: Amazon’s Jeff Bezos on how his garage startup became the largest company in the world by revenue
By Kristin StollerJuly 28, 2026
2 hours ago
Can a global car company survive today’s complicated world? Nissan hopes to find out
MagazineNissan
Can a global car company survive today’s complicated world? Nissan hopes to find out
By Andrew StaplesJuly 28, 2026
2 hours ago
How Wistron’s early Nvidia bet made it an unsung winner of the AI boom—and one of the biggest risers on this year’s Global 500
MagazineGlobal 500
How Wistron’s early Nvidia bet made it an unsung winner of the AI boom—and one of the biggest risers on this year’s Global 500
By Nicholas GordonJuly 28, 2026
2 hours ago
Meet the ‘AI Centurions’—6 formerly sleepy stocks that now have market caps over $100 billion
AIinvesting strategy
Meet the ‘AI Centurions’—6 formerly sleepy stocks that now have market caps over $100 billion
By Shawn TullyJuly 28, 2026
3 hours ago
small keyboard
AIOpenAI
OpenAI’s first hardware device debuted at $230. Now, it’s on eBay for $1,850
By Emily ForliniJuly 27, 2026
12 hours ago
Sam Altman thinks the singularity is already here, but an expert says OpenAI’s Hugging Face breach doesn’t prove it
AISam Altman
Sam Altman thinks the singularity is already here, but an expert says OpenAI’s Hugging Face breach doesn’t prove it
By Marco Quiroz-GutierrezJuly 27, 2026
12 hours ago

Most Popular

New York City women are making up to $30,000 per month by renting out their closets to strangers
Retail
New York City women are making up to $30,000 per month by renting out their closets to strangers
By Sarah GlodekJuly 27, 2026
1 day ago
Why did a $154 billion CEO just endorse stripping most Americans of voting rights—and taking us back to the 19th century?
C-Suite
Why did a $154 billion CEO just endorse stripping most Americans of voting rights—and taking us back to the 19th century?
By Nick LichtenbergJuly 27, 2026
18 hours ago
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
Real Estate
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
By Nick LichtenbergJuly 25, 2026
3 days ago
One-third of Seattle's downtown is empty: Here's how America's boomtown turned into one of the toughest places to find a job
Real Estate
One-third of Seattle's downtown is empty: Here's how America's boomtown turned into one of the toughest places to find a job
By Nick LichtenbergJuly 27, 2026
1 day ago
I've been teaching college students for decades. Most of them can no longer finish a book
Commentary
I've been teaching college students for decades. Most of them can no longer finish a book
By Austin SaratJuly 26, 2026
2 days ago
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
Success
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
By Orianna Rosa RoyleJuly 25, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.