The Blubber

Per Fox Business

Meta clarifies that its decision to place remote job postings to a halt is "purely temporary. A company spokesperson spoke to FOX Business to clarify the company's decisions.

"We remain committed to remote work. We've merely temporarily paused new remote work applications as leaders complete the restructuring work that Mark [Zuckerberg] announced earlier this month."

With the company's decision to place remote job postings at a halt comes the decision to remove the $1,000 aid it provided to remote workers. Remote workers received $1,000 worth of Amazon purchases and Lyft stipends.

Although removing aid benefits, Meta has retained its $75/month home internet coverage. This would equate to $900 a year.

Meta has also announced its next round of layoffs, which would see 10,000 people losing their position. If each worker received $900 a year in home internet coverage, the company would save $9 million from letting go of the 10,000 staff from internet expenses alone.

Per BI, Meta now has around 300 open positions worldwide, with some positions deemed "critical." Even the description on its remote work page was changed and deleted. Here's what was archived.

"Remote roles are now available in the US, Canada, and Europe, and we'll continue to add more roles in more locations as they become available"

It was recently announced that some Meta employees are expected to get lower bonuses and more staff assessments. Normally, the company lets go of employees if they get a low-performance rating for two consecutive review sessions, meaning employees could be let go in the span of just a year.

In the fourth quarter of 2022, the company reportedly spent $975 million in severance costs alone. This came after Meta initially announced that it would be letting go of 13% of its total headcount, following other tech companies with massive layoffs.

See flow at unusualwhales.com/flow.

Other News:

• Some Meta employees are to experience lower bonuses and more staff assessment
• Meta spent almost a billion in Q4 just to layoff its employees

Resources:

Fox Business

Business Insider