Meta Braces for Performance-Based Layoffs: 3,600 Jobs on the Line

Meta, the parent company of Facebook, is set to implement performance-based job cuts affecting approximately 5% of its workforce, or 3,600 employees. CEO Mark Zuckerberg announced the decision in an internal memo, citing the need to "raise the bar on performance management." Affected U.S. employees will be notified by February 10, with international staff to follow. This move comes as part of Meta's strategy to streamline operations and focus on key priorities like AI development. The company plans to backfill these positions later in the year.

Source: Bloomberg News