News reports say that social media company Meta Platforms is planning to cut 5% of total staff this year by terminating staff based on performance and hiring new workers to replace them.

Meta Platforms is cutting roughly 5 per cent 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 ...

Meta employs about 72,000 people, according to recent filings, so cutting 5% of staff would amount to 3,600 people, Bloomberg said Tuesday. The Menlo Park, California-based company owns Facebook ...