Meta Platforms is cutting 5% of its workforce, according to an internal memo circulated on Tuesday, first reported by Bloomberg.

“We typically manage people who don't meet expectations over the course of a year, but we will now make broader performance-based cuts during this cycle, with a view to filling these roles in 2025,” the memo read.

According to his latest quarterly reportthe company has about 72,000 employees. Meta owns competitors X's Instagram, Facebook, WhatsApp and Threads (among other businesses).

Related: Meta employee gets $400,000 a year on $25 food stamps

Meta has been making massive cuts for several years.

• In November 2022, the tech giant announced it was cutting 11,000 roles or 13% of its workforce.
• In 2023, CEO Mark Zuckerberg announced a “year of efficiency,” including the layoffs of about 10,000 people.
• In October 2024, Meta fired an undisclosed number of employees from WhatsApp, Instagram and Threads.

Earlier this month, Meta completed its independent fact-checking program in favor of a user-written Community Notes program. last week, the company announced was ending its DEI programs.

Business Insider AND CNBC got the memo too. Read it here:

^{Meta is working to build some of the most important technologies in the world. AI, glasses as the next computing platform and the future of social media. This is going to be an intense year and I want to make sure we have the best people on our teams.}

^{I set out to raise the bar on performance management and fire underperformers faster. We usually manage people who don't meet expectations over the course of a year, but we will now be making wider performance-based cuts during this cycle, with the aim of filling these roles in 2025. We will manage all of you those who have not met expectations for the last period if we are optimistic about their future performance and for those we let go we will offer generous splits in line with what we have offered with cuts previous.}

^{We will follow up with more guidance for managers before calibrations. Affected people will be notified on or after February 10th for those outside the US}