Meta (META.US) layoffs grabbing AI talent against the trend: Global slimming by 5%, urgently hiring machine learning engineers.

According to an internal memo, Facebook's parent company Meta Platforms (META.US) plans to begin company-wide layoffs next week, while also speeding up the hiring process for machine learning engineers. Layoff notices will be issued starting at 5 am local time on Monday in most countries (including the US). However, employees in Germany, France, Italy, and the Netherlands will be exempt from layoffs due to local regulations. Additionally, employees in a dozen other countries in Europe, Asia, and Africa will receive notices between February 11 and February 18. Meta's Chief HR Officer Janelle Gale mentioned in the memo that the layoffs will be based on performance, referred to as "performance terminations," with plans to cut approximately 5% of the "poor performers" and fill some of those positions. Unlike past layoffs, Meta plans to keep offices open on Monday and will not issue any further updates to provide more details on the layoff decisions. Meanwhile, Vice President Peng Fan, responsible for monetization engineering, also issued another memo on Friday requesting employees to assist in expediting the recruitment process for machine learning engineers and other "business-critical" engineering positions. The recruitment process is planned to take place between February 11 and March 13.