Facebook-parent Meta Platform is reportedly planning a new round of layoffs that could affect thousands and flatten its organization structure, according to a Washington Post report on Wednesday.

This new announcement follows a previous 11,000 or 13% employee cut made by the tech giant in November last year- the biggest downsizing effort in its history, as it grappled with the macroeconomic downturn, increased competition and a weak advertising market.

Meta set to layoff 11,000 of its employees amidst revenue slowdown
Facebook’s parent company, Meta has announced in a report that it will lay off over 11,000 employees, or 13% of its workforce. The CEO Mark Zuckerberg said this in a statement to employees citing that the macroeconomic downturn, increased competition, and advertising loss have caused revenue to be…

The company is also looking to scale down some leadership roles into lower-level roles as it looks to flatten the layers of management and “remove some layers in middle management to make decisions faster.” the report stated citing a person familiar with the matter.

Meta CEO Mark Zuckerberg had in an earnings call earlier this month said that the company will continue to cut costs and be more proactive about cutting low-priority and low-performance roles and projects as it focuses on "increasing efficiency” in the new year.

The report however did not state exactly when the company plans to make the cuts, but they are expected to begin in March.