Meta is set to reduce its workforce by approximately 5%, affecting around 3,600 employees, as part of a new performance management strategy, according to a report from Bloomberg. CEO Mark Zuckerberg announced the decision in an internal memo, emphasizing a faster approach to managing low performers. The layoffs come as the company continues to streamline its operations following previous significant cuts in 2022 and 2023. Affected employees will be notified by February 10, as Meta aims to fill roles with new hires post-termination.