Meta is reportedly poised to lay off the largest number of employees in company history, beginning this week.

Meta previously indicated that it planned to reduce its headcount, but The Seattle Times says sources within the company are saying this will be the biggest headcount reduction in its history.

The news is not surprising, especially given Meta’s financial troubles. The company is pouring billions into the metaverse, a bet that has yet to pay off in any way. The company has even tapped Microsoft to help it expand use cases for the metaverse.

Company executives had previously made it clear that they want managers to start eliminating employees that fail to deliver.

“If a direct report is coasting or a low performer, they are not who we need; they are failing this company,” said Maher Saba, Vice President of Remote Presence and Engineering. “As a manager, you cannot allow someone to be net neutral or negative for Meta.”

There is no word yet on the specific number of employees that will be laid off, but the layoffs will reportedly begin by the end of the week.