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- Meta is planning to cut 10% of its workforce
Meta is planning to cut 10% of its workforce
An article summarized by TechCrunch:
Meta is reportedly planning to cut about 10% of its workforce, roughly 8,000 employees, as part of a broader effort to streamline operations and improve efficiency. The company will also pause hiring for around 6,000 open roles, signaling a significant pullback in expansion. According to internal communications, the layoffs are expected to begin on May 20.
Company leadership said the decision is aimed at reallocating resources toward key strategic investments, particularly in artificial intelligence. Executives acknowledged the difficulty of the move, noting that many impacted employees made meaningful contributions, but framed the cuts as necessary to position the company for future growth.
The layoffs come after years of heavy spending, including tens of billions invested in metaverse initiatives that have yet to deliver strong returns. At the same time, Meta is ramping up spending to compete in the fast-moving AI space, recently launching new products like Muse Spark as it tries to keep pace with rivals and redefine its long-term strategy.