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Meta Platforms Inc., the parent company of Instagram, WhatsApp, and Reality Labs, has confirmed a series of layoffs affecting various teams within the organization. Reports suggest that these layoffs, which took place on Wednesday, are part of the company's strategy to reallocate resources to better align with its long-term objectives.

Former Meta employees took to social media to announce their layoffs, including those who had roles in Facebook, recruiting, legal operations, and design. Despite these announcements, a Meta spokesperson clarified that teams involved with Threads, recruiting, and legal operations were not affected by this reorganization. However, the company has not released specific details regarding the exact number of employees laid off or their departmental affiliations. Meta did not immediately respond to requests for further comments.

The latest wave of layoffs is not unprecedented for Meta. In 2022, the company reduced its workforce by approximately 13%, and last year, another 10,000 employees were laid off, with 5,000 open positions also being withdrawn. These efforts are part of Meta's "Year of Efficiency," an initiative initially perceived as temporary but now solidified as a permanent aspect of company operations. CEO Mark Zuckerberg has emphasized more efficient operational models, driving substantial changes within the organization. Reflecting on the earlier layoffs, Zuckerberg noted, "It was really tough, we parted with a lot of talented people we cared about. But in some ways actually becoming leaner kind of makes the company more effective."

These layoffs unfold during a period when Meta is contending with legal challenges from U.S. states. The lawsuits allege that Meta's platforms contribute to mental health issues among teenagers by fostering addictive behaviors.

On the financial front, Meta's stock closed 1.62% lower on Wednesday at $576.79. However, it saw a modest rebound, gaining 0.81% in premarket trading on Thursday, according to Benzinga Pro data.