Meta to cut 8,000 jobs — 10% of workforce — in major bloodbath next month: report
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Meta plans to lay off 10% of its workforce, approximately 8,000 employees, on May 20, with potential further cuts later in the year as it shifts resources towards artificial intelligence development. The company has allocated $135 billion for capital spending this year, focusing on AI capabilities.
Meta is set to lay off around 8,000 employees, 10% of its workforce, on May 20. The company plans to continue developing its artificial intelligence capabilities, with $135 billion allocated for capital spending this year. Further layoffs are expected later in the year, although the extent and timing are yet to be determined. Meta's focus on AI has led to significant investment and restructuring. The company's workforce stood at nearly 79,000 employees globally as of December 31. Other tech companies, including Snap and Block, have also undergone significant layoffs while pivoting towards AI adoption.
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