Meta Platforms, the parent company of Facebook, will cut about 5% of its workforce deemed “lowest performers” this year. The announcement comes as CEO Mark Zuckerberg reinforces his commitment to raising performance standards across the organisation.
The company had over 72,000 employees as of September 2024, and this latest round of cuts aligns with Meta’s broader efforts to streamline operations. In 2022, the tech giant underwent significant restructuring, leading to approximately 11,000 job losses. Zuckerberg has declared 2023 the “Year of Efficiency,” targeting a reduction of 10,000 roles.
Despite the layoffs, Meta plans to hire for the impacted roles, emphasising a strategic shift towards artificial intelligence (AI). Like many tech giants, including Cisco and IBM, Meta is redirecting investments into AI-related projects. The company has already allocated billions of dollars to bolster its AI infrastructure, with expenses expected to increase in the coming months.
In other developments, Meta recently ended its U.S. fact-checking programme and eased restrictions on sensitive discussions. The move comes amid pressure from conservative groups as former President Donald Trump eyes a political comeback.
The latest layoffs were initially reported by Bloomberg News.