A new report says the Menlo Park-based giant is expected to announce large-scale layoffs sometime this week.
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The Wall Street Journal cites close sources that say the announcement could be handed out as soon as Wednesday.
MORE: Here's how Twitter employees are finding out they've been laid off as nearly 50% of workforce cut
The layoffs are expected to affect many thousands of Meta employees. It's unclear what percentage of its overall workforce.
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This would be the company's first large-scale layoffs in its 18-year history.
Meta's stock has fallen more than 70% this year.