Meta intends to cut thousands of jobs starting this week

Only a few months after the Facebook-parent company removed more than 11,000 jobs from its workforce, Bloomberg News reported on Monday that Meta Platforms Inc (META.O) will eliminate thousands of positions as soon as this week.

According to the article, which relied on persons with knowledge of the situation, the latest round of job layoffs is unrelated to the “flattening” and is being motivated by financial goals.

Last month, the Washington Post newspaper had reported that Meta was planning to cut jobs in a reorganization and downsizing effort.

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Meta, at that time, declined to comment, but spokesperson Andy Stone in a series of tweets cited several previous statements by Chief Executive Officer Mark Zuckerberg suggesting that more cuts were on the way.

Meta’s mass layoffs in November that cut more than 11,000 jobs was among the biggest last year and the first in the company’s history. Other tech companies, including Google-parent Alphabet Inc (GOOGL.O) and Microsoft Corp (MSFT.O), have also cut thousands of jobs.