According to a report, Facebook parent company Meta is planning new layoffs.

According to media reports, Facebook’s parent company, Meta Platforms, is planning additional layoffs over the course of the next few months.

According to sources familiar with the situation, the additional layoffs will be announced in multiple rounds over the next few months and will total roughly the same magnitude as the 13% reduction in its workforce last year.

The Wall Street Journal reported on Friday that the first job cuts are expected to be announced the following week, with non-engineering positions expected to be hit particularly hard. Some projects and teams are also anticipated to fail.

Last year, Meta eliminated roughly 11,000 jobs, or approximately 13 percent of its workforce. The reductions this year are expected to reach the same proportion of those who remain, according to the sources, though the final tally of the cumulative reductions anticipated for the second quarter has not yet been determined.

Reality Labs, Meta’s hardware and metaverse division, was working on a number of wearable devices, according to sources, suggesting a near-term retreat from efforts to popularise virtual and augmented reality products even as longer-term research efforts continue.

After-hours trading for Meta shares increased by more than 2% after The Wall Street Journal reported the planned layoffs.

Susan Li, Meta’s chief financial officer, stated on Thursday at the Morgan Stanley 2023 Technology, Media, and Telecom Conference, “We’re continuing to look across the company, across both Family of Apps and Reality Labs, and evaluate if we’re deploying our resources towards the highest leverage opportunities.”

Mark Zuckerberg, the chief executive officer of Meta, previously stated that 2023 would be a “year of efficiency” for the company and that some projects would likely be discontinued.

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Given Zuckerberg’s October prediction that the company would end 2023 with roughly the same number of employees as in October, the ongoing layoffs are noteworthy.