Honestly, multiple rounds of cuts are a big failure of leadership.

The research is clear that layoffs negatively affect morale and performance. But one big round of layoffs has much less impact than a series of smaller ones. Employees will be sitting around waiting for the next round of cuts to happen, and many people do not like operating in such an unstable environment and will seek more stable employment.

If layoffs are necessary, you tell the staff why and the correction you need to make, and then you set out to make the cuts big enough so that you can go at least a year without having to do another round. The way Meta is operating is if they don't know anything beyond two feet in front of them.