In an internal memo shared on Tuesday, Zuckerberg said he's raising the bar on performance management to "move out low performers faster."

CEO Mark Zuckerberg said the job cuts are necessary as the company builds “the most important technologies in the world.”

Meta, the parent company of Facebook and Instagram, is cutting the lowest-performing 5% of its workforce and plans to fill those roles later this year, the company said in a memo.

Meta, the owner of Facebook, Instagram and WhatsApp, is preparing to cut about 5% of its global workforce, as the company looks to drop "low performers faster". In a memo to staff, boss Mark Zuckerberg said he had made the decision to speed up the firm's regular performance-based cuts in anticipation of an "intense year".

Meta specified that it is “exiting approximately 5% of our lowest performers” in a separate message posted by a company director.

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,