Meta is planning a new wave of layoffs as part of its restructuring, according to reports. The cuts are expected to impact various departments within the company as it seeks to streamline operations and improve efficiency.

The move follows previous rounds of job cuts and is part of a broader effort to reduce costs and refocus on key strategic priorities, such as the metaverse and artificial intelligence. Meta CEO Mark Zuckerberg has emphasized the need for the company to become more lean and agile in the face of economic uncertainty and increased competition.

Specific details regarding the number of employees affected and the timing of the layoffs remain unclear. However, sources suggest that the cuts will be widespread and impact employees at various levels within the organization.

This latest round of layoffs underscores the challenges facing Meta as it navigates a rapidly evolving technology landscape and seeks to maintain its position as a leading social media and technology company. The company’s stock price has been volatile in recent months, reflecting investor concerns about its growth prospects and profitability.

The restructuring efforts are also aimed at improving Meta’s financial performance and demonstrating to investors that the company is taking decisive action to address its challenges. The company is expected to provide further updates on its restructuring plans in the coming months.