Meta is planning to cut about 5% of its workforce, with a specific focus on the company's lowest-performing employees.

Meta, the owner of Facebook, Instagram and WhatsApp, is preparing to cut about 5% of its global workforce, as the company looks to drop "low performers faster". In a memo to staff, boss Mark Zuckerberg said he had made the decision to speed up the firm's regular performance-based cuts in anticipation of an "intense year".

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.