Meta plans another round of layoffs that could affect thousands of workers, according to a Bloomberg News report published Monday evening.

The job cuts could start this week and represent an additional round of layoffs, adding to the 13% of Meta workers who were laid off as part of a major cost-cutting plan announced in November.

Meanwhile, the company continues to heavily invest in developing the metaverse, which Meta believes could represent the next frontier for mainstream computing. The company’s Reality Labs division, which is tasked with building the virtual reality and augmented reality technologies needed for the metaverse, brought in $727 million in revenue during the fourth quarter, but also recorded a $4.28 billion operating loss.