Meta Platforms Inc. is reducing its workforce by approximately 5% through performance-based cuts, according to an internal memo.

This decision could impact around 3,600 employees, based on the company’s reported total of 72,000 as of September.

The cuts come as part of Chief Executive Officer Mark Zuckerberg’s initiative to streamline operations.

In the memo, he said that Meta will expedite its performance management process to address low-performing employees more quickly.

New hires may be brought in to fill affected roles, but this is expected to occur in 2025.

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