Meta will cut thousands of employees in the latest move for the controversial company that owns platforms like Facebook and Instagram, according to reports. An internal memo sent to Meta workers said five percent of low-performing employees will be terminated,

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, the parent company of Facebook and Instagram, is cutting the lowest-performing 5% of its workforce and plans to fill those roles later this year, the company said in a memo.