Facebook owner Meta Platforms Inc.Another "new step" to reduce costs and increase efficiency.。

The social media giant is currently planning to reduce bonuses for some employees and will also assess employee performance appraisals more frequently, according to media reports citing an internal Meta memo on Tuesday.。

Specifically, the company will relaunch its twice-yearly employee performance review, and employees rated "meeting most expectations" in the 2023 year-end review will receive a smaller percentage of bonuses and restricted stock awards that expire in March 2024.。And according to media reports, the bonus multiplier at that level has been reduced from 85 percent to 65 percent.。

A Meta spokesperson said in a statement: "Taking into account the lessons learned and feedback received over the past year, we are making changes to our performance process, which will also be optimized for the future.。These changes are not related to employee restructuring。"

It is worth noting that in mid-March, Meta also announced that it would open a second round of mass layoffs, which is expected to affect up to 10,000 employees.。At the same time, the company also said it would scrap hiring plans for 5,000 jobs as well as lower-priority projects and "flatten" middle management in response to a severe recession.。