Meta, the parent company of Facebook and Instagram, plans to reduce its global workforce by approximately 5%, affecting thousands of employees worldwide, The Guardian reports, citing an internal memo from CEO Mark Zuckerberg.
In the memo, Zuckerberg described 2024 as a “challenging year” and announced the company’s intention to “accelerate the removal of underperforming employees.”
“Typically, we address performance issues over a year, but this cycle will see larger-scale reductions,” Zuckerberg stated.
Reports estimate that 3,600 employees will be impacted by the layoffs. Meta currently employs around 72,000 people globally.
