Meta Platforms, the parent company of Facebook, is set to remove approximately 5% of its lowest-performing employees as part of a broader restructuring effort, according to an internal memo circulated to employees.

Zuckerberg had also called 2023 the "Year of Efficiency" as Meta announced its decision to eliminate around 10,000 roles.

CEO Mark Zuckerberg has also warned employees about more such job cuts this year to 'raise the bar' on performance management.