Meta, which owns Facebook, and Google, which is part of Alphabet, are reportedly cutting jobs as the tech giants try to cut costs as their growth slows.
The Wall Street Journal said on Wednesday that people who know about these decisions said that Meta wants to cut its costs by at least 10% in the next few months.
Meta executives haven't used the word "layoffs," but they're reorganising departments and giving workers time to apply for other jobs.
Meta and Google are trying to cut costs to get ready for an economic downturn. Both companies make money by selling ads.
Dave Arnold, a spokesman for Meta, pointed to what company executives said during the July earnings call.
Mark Zuckerberg, who was CEO of Meta at the time, said at the time that the company plans to "slowly reduce headcount growth over the next year."
Sundar Pichai, CEO of Alphabet, reportedly told Google employees in July that the company wouldn't hire as many people and urged them to be "more entrepreneurial."
Meta and Google are said to limit the amount of time employees have to find a new job within the company.
If their jobs were eliminated, Meta employees have about 30 days and Google employees usually have about 60 days to apply for other jobs in the company.
A Google spokesman told the Journal that almost 95% of employees who wanted to stay with the tech giant found new jobs within the time limit.