Meta announced it will lay off approximately 8,000 employees on May 20, representing 10% of the company's global workforce. The parent company of Facebook and Instagram plans additional cuts in the second half of the year, but has not yet defined specific dates or numbers.
This will be Meta's most significant round of layoffs since the period the company called the "year of efficiency" in 2022-2023, when it eliminated about 21,000 workers. The company is investing hundreds of billions of dollars in artificial intelligence and seeks to reshape its internal operations around this technology, reflecting a trend among American technology companies.
Meta plans to lay off approximately 8,000 employees on May 20, representing 10% of its global workforce
Meta employed approximately 79,000 people as of December 31
Company plans additional cuts in the second half of the year, but details have not yet been defined
Meta is investing hundreds of billions of dollars in AI to reshape the company's internal operations
Meta eliminated approximately 21,000 workers in a 2022-2023 restructuring called the 'year of efficiency'
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