Home » News » The Chan Zuckerberg Initiative has implemented workforce reduction measures.

Share This Post

Attrition / Featured News / HR Trends

The Chan Zuckerberg Initiative has implemented workforce reduction measures.

The Chan Zuckerberg Initiative has implemented workforce reduction measures.

The Chan Zuckerberg Initiative (CZI), a charitable organisation founded by Mark Zuckerberg, Meta, and his wife Priscilla Chan, has reportedly reduced its headcount. This week, approximately 48 employees were laid off. Employees affected will receive 16 weeks of basic pay, health insurance coverage, and a $10,000 severance stipend.According to the Washington Post, CZI had 450 employees in 2020, despite the fact that the headcount for 2023 is not yet available.

In 2015, Zuckerberg and Chan committed to donating 99% of their Facebook shares, which were worth $45 billion at the time, to the charitable organisation.

The CZI’s primary areas of activity are science, education, and justice and opportunity.

The organisation sought to build future marked by inclusivity, justice, and well-being for all.

The layoffs did not come as complete surprise because they were discussed in June, when reduction in headcount was discussed in August.

However, social media posts indicate that many people are wondering why a charitable organisation like CZI would need to lay off employees at all. After all, isn’t a charity interested in philanthropy because it has a lot of money?

Some have even speculated on Blind that Zuckerberg’s decision indicates that he is no longer interested in charity work because he has likely realised that it is no longer acceptable for billionaires to do so.

In 2015, Zuckerberg and Chan committed to donating 99% of their Facebook shares, which were worth $45 billion at the time, to charity. The CZI’s primary areas of focus are science, education, justice and opportunity. The organisation aimed to create a future marked by inclusivity, justice, and well-being for all.

The layoffs were not completely unexpected because they were discussed in June when a reduction in headcount was discussed in August.

SHARE THIS POST:
Home
News
Members
Forum