Facebook parent company Meta has announced another round of layoffs. Mark Zuckerberg is planning to fire 3,600 employees. This is not the first time when Meta has announced layoffs. CEO Mark Zuckerberg said the performance-based cuts are intended to ensure that the company has the "strongest talent" and is able to "bring new people in.

Meta plans to dismiss approximately 3,600 employees identified as low performers and replace them with new hires, according to an internal memo reported by Bloomberg on Tuesday.

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 will cut thousands of employees in the latest move for the controversial company that owns platforms like Facebook and Instagram, according to reports. An internal memo sent to Meta workers said five percent of low-performing employees will be terminated,

Meta's recently announced cuts come after several restructuring efforts by the social media giant in recent years.