Facebook parent Meta plans large-scale layoffs

MENLO PARK, Calif. - The parent company of Facebook and Instagram may be the latest tech company to lay off hundreds of workers.

Meta announced the layoffs could happen as early as Wednesday. This comes just days after Twitter terminated thousands of workers and other Bay Area tech companies cut hundreds of jobs.

In what could be the largest round in recent tech job cuts, this would be the company's first round of layoffs in its 18-year history. In September, Meta put a freeze on hiring.

The layoffs are expected to affect many thousands of the company's 87,000 employees world-wide.

While a smaller amount of cuts happened at Twitter last week, it still hit about half of the company's staff. The layoffs prompted a lawsuit saying employees weren't given the legally required amount of advance notice.

ALSO: Twitter lays off 784 employees at SF Headquarters, as former employees file lawsuit

Ride-share company Lyft also announced it's cutting about 680 jobs. And the financial payment start-up Stripe, also based in Silicon Valley, announced it was cutting 1,000 jobs.

According to Business Insider, Apple announced a hiring freeze internally, which will stay in place for at least the next year. Additionally, Amazon said it would pause hiring for some of its corporate roles.

Google, however said even though hiring has slowed, there are no plans for a hiring freeze.