Meta Platforms Inc (NASDAQ:FB), the parent company of Facebook, is set to cull thousands of jobs in a fresh round of layoffs, according to Bloomberg News.
The cuts are driven by financial targets and are separate from the "flattening" of the management structure being overseen by CEO Mark Zuckerberg, the report added.
Last month, the Washington Post reported on the company's plans to cut jobs in a reorganisation and downsizing effort.
Meta's previous mass layoffs in November 2022 cut more than 11,000 jobs, among the biggest last year, and the first in the company's history.
Other tech companies, including Google-parent Alphabet Inc (NASDAQ:GOOG) and Microsoft Corp, have also cut thousands of jobs.