Meta layoffs: Facebook parent company cutting 5% of workforce, focusing on 'low performers'

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

A Meta spokesperson confirmed the news in an emailed statement to USA TODAY Wednesday after first being reported by Bloomberg, citing an internal memo.

CEO Mark Zuckerberg said in the memo, which was also obtained by CNBC, that he has decided to "raise the bar" on performance management and "move out low performers faster."

"We typically manage out people who aren't meeting expectations over the course of a year, but now we're going to do more extensive performance-based cuts during this cycle, with the intention of back filling these roles in 2025," Zuckerberg said in the memo.

Zuckerberg also said in the memo that 2025 is going to be an "intense year" and he wants to make sure the company has "the best people on our best teams."

The memo states that employees who are impacted will be notified on Feb. 10 or later for those outside the United States. The company has more than 72,000 employees, according to its most recent quarterly report.

Many tech companies, including Cisco and IBM, have been looking to redirect investments into artificial intelligence technology, Reuters reported. Meta has also poured billions into AI-related infrastructure, with its expenses expected to grow this year.

The social media company initiated several restructuring changes in 2022, resulting in around 11,000 job cuts, before eliminating roughly 10,000 roles in 2023, Reuters reported.

The layoffs come after the company scrapped its U.S. fact-checking program last week and reduced curbs on discussions around contentious topics such as immigration and gender identity.

Contributing: Jasprett Singh, Reuters