Employees in the U.S. will receive 16 weeks of their salary, plus two additional weeks for every year of service without instituting a limit.
The company will pay all paid time off (PTO) and everyone who is part of the restricted stock units (RSU) program will receive their November 15 vesting.
Meta will continue to pay health insurance coverage for six months for both employees and their dependents, plus provide three months of career support with an external vendor, including “early access to unpublished job leads,” the company said.
Since Meta is known for hiring employees who are working in the U.S. because of a company-sponsored visa, the tech behemoth is providing immigration specialists to provide guidance.
Zuckerberg ກ່າວວ່າ "ຂ້ອຍຮູ້ວ່ານີ້ມີຄວາມຫຍຸ້ງຍາກໂດຍສະເພາະຖ້າທ່ານຢູ່ທີ່ນີ້ດ້ວຍວີຊາ," Zuckerberg ເວົ້າ. "ມີໄລຍະເວລາແຈ້ງການກ່ອນທີ່ຈະສິ້ນສຸດແລະບາງໄລຍະເວລາຜ່ອນຜັນຂອງວີຊາ, ຊຶ່ງຫມາຍຄວາມວ່າທຸກຄົນຈະມີເວລາທີ່ຈະວາງແຜນແລະເຮັດວຽກຜ່ານສະຖານະພາບການເຂົ້າເມືອງຂອງພວກເຂົາ."
While the majority of employees lost access to the company’s systems due to the amount of sensitive information, Zuckerberg is being more magnanimous compared to other massive tech giant layoffs and will give the staff access to their email “throughout the day so everyone can say farewell,” he said.
Meta Platforms will provide similar benefits to its employees outside of the U.S.
“Outside the U.S., support will be similar, and we’ll follow up soon with separate processes that take into account local employment laws,” Zuckerberg said.
Zuckerberg Apologizes Zuckerberg also apologized to his employees on the layoffs, emphasizing that the macroeconomic environment had become challenging.
“The macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected. I got this wrong, and I take responsibility for that,” he said.
The company’s hiring freeze will continue through the first quarter of 2023 with a few exceptions as Meta’s growth and efficiency will determine its outlook.
“I’m going to watch our business performance, operational efficiency, and other macroeconomic factors to determine whether and how much we should resume hiring at that point,” Zuckerberg said. “This will give us the ability to control our cost structure in the event of a continued economic downturn. It will also put us on a path to achieve a more efficient cost structure than we outlined to investors recently.”
Meta is not the only major tech company to announce layoffs this season. Twitter’s (TWTR ຮັບລາຍງານຟຣີ new owner, Elon Musk, kicked off his takeover of the social media network by firing employees abruptly, cutting off access to their laptops, email, and Slack accounts . Musk has said he aims to cut 50% of the company’s workforce .