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Meta Cuts Workforce by 5% Amid Financial Pressures
In a significant move affecting Silicon Valley, Meta, the parent company of Facebook, has announced a reduction of five percent of its workforce. This decision echoes the ongoing financial challenges faced by the tech giant and marks another round of layoffs for the company.
Layoffs Begin Early in the Week
The layoffs began early on a Monday morning, impacting approximately 3,600 employees. Starting at 5 a.m., Meta initiated what the company refers to as “performance terminations,” targeting those classified as the lowest performers. This underscores an urgency on the part of management to streamline operations and enhance efficiency within the organization.