The latest round of layoff will impact 5% of its 72,000 people globally in most countries, including the US.

Meta, the parent company of Facebook and Instagram is all set to initiate a company-wide layoff this week. The layoff will impact 5% of its employees translating to 3,000 in numbers in most countries, including the US. The layoff is of performance-based job cuts. 

According to a Reuters report, the company will send notices to employees starting at 5AM PST, starting today. Affected workers will receive emails and lose access to company systems.

This latest round of layoffs marks the largest workforce reduction at the company since it eliminated 21,000 jobs during 2022 and 2023. According to Meta’s most recent quarterly report, the company employs more than 72,000 people globally.

Simultaneously, Meta will also initiate the hiring process for machine learning engineers. Peng Fan, Meta’s VP of Engineering for Monetization, urged employees to assist in an expedited hiring process for machine learning engineers and other “business-critical” engineering positions. This accelerated hiring push is scheduled to take place between February 11 and March 13.