Social media giant Meta plans to replace around 5% of its staff this year, US media reported on Tuesday, citing an announcement by founder and chief executive Mark Zuckerberg to employees. As part of the restructuring,

Meta is planning to cut about 5% of its workforce, with a specific focus on the company's lowest-performing employees.

Meta Platforms Inc. is cutting roughly 5 percent of its staff through performance-based terminations and plans to hire new people to fill their roles this year, according to an internal memo sent to all employees “I’ve decided to raise the bar on performance management and move out low-performers faster,