News reports say that social media company Meta Platforms is planning to cut 5% of total staff this year by terminating staff based on performance and hiring new workers to replace them

The layoffs will remove 5 percent of Meta's workforce as an effort to 'move out low performers faster' in preparation for 'an intense year,' said CEO Mark Zuckerberg.

Meta is planning to lay off about 5 percent of its workforce by targeting the company’s lowest performers in preparation for what CEO Mark Zuckerberg said will be an “intense year.” Zuckerberg, in an internal memo to employees Tuesday,

Meta is planning to slash roughly 5% of its staff this year in a move aimed at weeding out under-performers, CEO Mark Zuckerberg revealed on Tuesday. In a memo to employees on Meta’s internal message board,

Top boss Mark Zuckerberg is planning to let go about 5% of the lowest performers at Meta Platforms (NASDAQ:META), according to an internal memo sent by him to company employees, which was seen by Bloomberg.