This was reported by Ukrinform with reference to The Wall Street Journal.

The layoffs are expected to affect thousands of workers. The announcement is scheduled for Wednesday, November 9, according to broadcast sources.

Company officials told employees to cancel non-essential travel starting this week.

As of the end of September, Meta had more than 87,000 employees.

The publication states that the planned layoffs will be the first large-scale reduction in headcount in the company’s entire history. Although in percentage terms, the reduction will be smaller than Twitter.

A Meta representative declined to comment on this information.

As reported by Ukrinform, on October 27, Elon Musk finalized an agreement to acquire the Twitter company for $44 billion. Immediately after acquiring Twitter, he dissolved the board, consolidated his control over the company, and announced the layoffs. “Unfortunately, you have no choice when the company is losing more than $4 million a day,” Musk said. At the same time, he added that all those laid off were “offered a 3-month severance pay, which is 50% more than the law stipulates.”

Twitter employees filed a class action lawsuit against the company in San Francisco federal court over Elon Musk’s plan to fire nearly 3,700 people without proper notice in violation of federal and California law.