Tech giant Meta is planning to move forward with laying off about 200 employees in the San Francisco Bay Area.
The company’s layoffs will affect 124 employees from its site in Burlingame, California, along with 74 in Sunnyvale. Those cuts are expected to take effect in late May, with the Burlingame cuts slated for May 22 and the Sunnyvale layoffs a week later on May 29.
All positions involved will be eliminated permanently, according to Meta’s regulatory filings with the state of California.
The job cuts are related to an announcement from last month that affected Meta’s sales and recruiting teams and its Reality Labs hardware division. Some of the workers affected by the cuts will be offered other jobs within the company.
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“Teams across Meta regularly restructure or implement changes to ensure they’re in the best position to achieve their goals,” a Meta spokesperson told FOX Business. “Where possible, we are finding other opportunities for employees whose positions may be impacted.”
The move comes as Meta, the parent company of Facebook and Instagram, announced 700 layoffs last month that affected the company’s recruiting operations and sales teams.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| META | META PLATFORMS INC. | 574.46 | -4.77 | -0.82% |
Meta’s moves to restructure its workforce come as the company is investing heavily in artificial intelligence (AI) infrastructure and has incurred heavy costs in the process.
The company projected it will spend up to $135 billion on capital expenditures, including those related to AI, this year. Meta CEO Mark Zuckerberg has also said the company will spend an estimated $600 billion building out its U.S. infrastructure by 2028.
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Last month, Reuters reported that Meta was planning layoffs that could affect 20% or more of its workforce as it looks to offset those costs and improve its efficiency through AI-driven tools.
Meta employed nearly 79,000 at the start of the year.
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