Meta Platforms planning to lay off thousands more as early as this week

The imminent round of cuts is being driven by financial targets and is separate from the "flattening," said the people, who asked not to be identified

Meta Platforms, the owner of Facebook and Instagram, is planning a fresh round of layoffs and will cut thousands of employees as soon as this week, according to people familiar with the matter.

The world’s largest social networking company is eliminating more jobs, on top of a 13 per cent reduction in November, in a bid to become a more efficient organisation. In its earlier round of cuts, Meta slashed 11,000 workers in what was its first-ever major layoff. 

The company has also been working to flatten its organisation, giving buyout packages to managers and cutting whole teams it deems nonessential, Bloomberg