Meta has informed its staff it will let go of roughly 8,000 employees — approximately 10% of its workforce — as it looks to bolster its presence in the artificial intelligence space.
The employees were told about the sweeping cuts in a memo as the company prepares to make heavy investments in AI. The layoffs are expected to begin May 20.
“I know this is unwelcome news and confirming this puts everyone in an uneasy state, but we feel this is the best path forward, given the circumstances,” Chief People Officer Janelle Gale wrote in the memo obtained by Bloomberg News.
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A Meta spokesperson declined to comment on the job cuts but confirmed the memo and its contents with FOX Business.
Other tech companies are making staff reductions amid a boom in AI spending. On Thursday, Microsoft Corp. offered voluntary retirement to around 8,750 employees, or 7% of its U.S. workforce, according to Bloomberg.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| META | META PLATFORMS INC. | 659.15 | -15.57 | -2.31% |
In her memo, Gale wrote that the layoffs are “part of our continued effort to run the company more efficiently and to allow us to offset the other investments we’re making.”
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“This is not an easy tradeoff, and it will mean letting go of people who have made meaningful contributions to Meta during their time here,” she said.
Laid-off employees will receive a generous severance package and career support services to help find other jobs and immigration support for those who need it.
The company previously laid off 11,000 workers in November 2022 — about 13% of its workforce — and cut another 10,000 jobs months later. Meta employed nearly 79,000 people as of Dec. 31, according to its latest filing.
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