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 will remove 5% of its existing workforce via performance-based terminations, according to an internal memo seen by Bloomberg. I’ve decided to raise the bar on performance management and move out low performers faster,” Mark Zuckerberg said in the memo.