The social networking giant currently employs about 87,000 people.
Meta CEO Mark Zuckerberg signaled during the company’s third-quarter earnings call that job cuts could be imminent.
Meta’s stock is down 73% since the beginning of the year.
Other tech companies have resorted to layoffs.
Last week,Twitter initiated layoffsthat may have affected as much as half the company’s 3,700 workers.
A Facebook representative declined to comment.
