Bloomberg reviewed the internal memo explaining the cuts, which was posted to Meta's internal Workplace forum Tuesday. In it, Zuckerberg confirmed that Meta was shifting its strategy to "move out low performers faster" so that Meta can hire new talent to fill those vacancies this year.

Mark Zuckerberg said Meta plans to make more extensive performance-based cuts." Staff have questioned how they will work in practice.

Meta will cut about 5% of its workforce, focusing on getting rid of low-performing employees at the social media giant.

Microsoft is creating a new engineering group that’s focused on artificial intelligence. Led by former Meta engineering chief Jay Parikh, the new CoreAI – Platform and Tools division will combine Microsoft’s Dev Div and AI platform teams together,

Microsoft Corp. is forming a new engineering group that will be led by Jay Parikh, a former Meta Platforms Inc. executive who joined the company last year. Microsoft Chief Executive Officer Satya Nadella announced the move today in a note to employees.