Meta Platforms is cutting 5% of its workforce, according to an internal memo circulating on Tuesday, first reported by Bloomberg.
“We typically manage out people who aren’t meeting expectations over the course of a year, but now we’re going to do more extensive performance-based cuts during this cycle, with the intention of back filling these roles in 2025,” the memo reads.
According to its most recent quarterly report, the company has around 72,000 employees. Meta owns Instagram, Facebook, WhatsApp, and X competitor Threads (among other businesses).
Related: Meta Fires Employee Making $400,000 Per Year Over a $25 Meal Voucher Issue
Meta has been conducting mass layoffs for a number of years.
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