Meta plans May 20th layoffs affecting about 10% of staff, more cuts to follow
Meta is planning to lay off around 10% of its global workforce, approximately 8,000 employees, on May 20th, with further cuts expected later in the year. The layoffs are part of the company's restructuring efforts, potentially linked to its costly artificial intelligence initiatives.
Meta plans to lay off around 8,000 employees, or 10% of its global workforce, on May 20th. This is the first wave of layoffs, with additional cuts expected later in the year. The plans may be adjusted based on developments in artificial intelligence. Meta CEO Mark Zuckerberg is heavily investing in AI, with billions of dollars allocated to its development. The company's AI efforts are costly, and some research suggests that tech giants may use AI adoption as a justification for layoffs. Meta's restructuring could be its largest since late 2022 and early 2023.
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