<p><a href="https://www.foxbusiness.com/category/facebook" _mce_href="https://www.foxbusiness.com/category/facebook" target="_blank">Facebook parent company</a>&nbsp;Meta Platforms is planning to let go of thousands of employees this week, marking the first wide-ranging layoffs in the social media platform's history, the Wall Street Journal reported Sunday.&nbsp;</p> <div class="ad-container desktop ad-h-50 ad-w-300"></div> <p>The cuts add to broader reductions across the tech industry, with Twitter, Snap,&nbsp;<a href="https://www.foxbusiness.com/economy/microsoft-lays-off-more-employees-amid-weakness-pc-market-demand" _mce_href="https://www.foxbusiness.com/economy/microsoft-lays-off-more-employees-amid-weakness-pc-market-demand" target="_blank">Microsoft and other companies</a>&nbsp;trimming their workforces in recent months.&nbsp;</p> <p>A spokesperson for Meta declined to comment on Sunday, but directed FOX Business to comments that CEO and co-founder Mark Zuckerberg made during a third-quarter earnings call last month.&nbsp;</p> <p>"In 2023, we’re going to focus our investments on a small number of high-priority growth areas,"&nbsp;<a href="https://www.foxbusiness.com/category/mark-zuckerberg" _mce_href="https://www.foxbusiness.com/category/mark-zuckerberg" target="_blank">Zuckerberg told</a>&nbsp;investors on Oct. 26. "So that means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year."</p>