Reports indicate that Meta Platforms, the social media giant, intends to reduce its workforce by approximately 5% this year. The strategy involves terminating employees based on their performance and subsequently hiring new staff to take their places.

According to a report from Bloomberg News, CEO Mark Zuckerberg communicated this plan to employees through an internal message. He expressed a desire to “raise the bar on performance management and expedite the removal of underperforming staff.”

Recent filings reveal that Meta has around 72,000 employees, suggesting that a 5% reduction would equate to about 3,600 jobs. The corporation, headquartered in Menlo Park, California, operates some of the most popular platforms including Facebook, Instagram, WhatsApp, and Threads.

While the company refrained from providing comments on the matter, it confirmed the accuracy of Bloomberg’s report. Notifications regarding layoffs in the United States are scheduled for February 10, while employees in other regions will receive updates at a later date.