Meta Platforms Inc. is planning to cut about 5% of its lowest performers with the intent of backfilling their roles this year, according to an internal memo sent to employees.

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

The move comes just after Mark Zuckerberg announced Meta would eliminate fact-checking.

Meta Platforms plans to cut roughly 5% of its worst-performing employees this year with the intent of hiring new people to fill their roles, a company spokesperson told Barron’s. Bloomberg reported the news earlier,

Facebook's parent business, Meta Platforms, intends to rehire the affected roles later this year but will lay off about 5% of its employees owing to poor performance.