Meta Platforms Inc. has launched another round of layoffs, affecting staff across Instagram, WhatsApp, and Reality Labs, according to reports by The Verge. A Meta spokesperson confirmed that these changes aim to align with the company’s long-term strategy and regional objectives.

“Some teams are being relocated, and certain employees are moving to new roles. In cases where positions are eliminated, we work diligently to find alternate opportunities for those impacted,” the spokesperson stated.

Notable app developer Jane Manchun Wong, who joined Meta’s Threads team in 2023, shared on social media that her position was among those cut. While Meta has not specified the exact number of layoffs, the company has reportedly downsized by about 21,000 roles since November 2022 to manage costs.

Meta’s CEO, Mark Zuckerberg, addressed the need for a streamlined organization in March 2023, explaining that a leaner team would enhance productivity and support Meta’s main priorities.

In a separate incident, Meta recently terminated approximately 24 employees at its Los Angeles office over misuse of a $25 meal credit program. Reports indicate that the individuals exploited the system by purchasing non-food items such as acne pads and laundry supplies, and some pooled their credits for home meal deliveries.

Zuckerberg’s net worth has also seen a tremendous boost in 2023, climbing by $71.8 billion to over $200 billion, placing him among the top three richest individuals globally. Meta’s rising performance, with an impressive $134.9 billion in revenue and nearly four billion monthly active users, contributed to this wealth surge. The company’s stock has surged by almost 60% since January, drawing significant investor attention.