Meta plans to axe more than 10 per cent of its UK workforce and ditch Instagram’s new hub in London, as the social media group retreats from the British capital in its latest restructuring effort.

An internal document sent to staff on Wednesday said that at least 687 jobs would be eliminated, primarily in London, with yet more among its UK staff of about 5,000 at risk of redundancy.

The biggest cuts will hit the Instagram team in London, with 250 jobs set to be axed, though others will be given the chance to move to New York. The photo app will continue to be headquartered at Meta’s main offices in Menlo Park, California.