Read Facebook founder Mark Zuckerberg’s memo announcing job cuts: I want to make sure …

Facebook parent company Meta has announced plans to layoff about 5% of its lowest performers. According to a report by Bloomberg, the company intends to backfill their roles this year. The announcement has been made by company CEO Mark Zuckerberg in a memo.

The company expects to reach 10% of “non-regrettable” attrition by the end of the current performance cycle, which includes roughly 5% non-regrettable attrition from 2024, as per the memo.