Facebook and Instagram owner Meta Platforms Inc (NASDAQ:META) is planning to cut 5% of the staff it sees as the "low-performers" as well as ditching fact-checkers.
This equates to roughly 3,600 roles, based on the 72,404 global employees recorded as of the end of its most recent earnings report.
In a memo to all staff on Tuesday, CEO Mark Zuckerberg said those departing will be told on Monday 10 Febuary.
He said while the company typically takes a year to judge whether to "manage out people who aren't meeting expectations" the process would be sped up as "2025 is going to be an intense year, and I want to make sure we have the best people on our teams".
As a result, Meta will "do more extensive performance-based cuts [...] with the intention of backfilling these roles in 2025".
For those let go, severance will be provided in line with previous cuts, Zuckerberg said.
Shares of Meta lost around 2.9% on Tuesday afternoon.