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Meta Inc. has notified employees that it will lay off approximately 8,000 employees, or approximately 10% of its workforce, in order to strengthen its presence in the artificial intelligence field.
Employees were informed of the significant cuts in a memo as the company prepares to make major investments in AI. The layoffs are scheduled to begin on May 20th.
“We know this is unwelcome news and confirming this leaves everyone in a state of anxiety, but we believe this is the best path forward given the circumstances,” Chief Human Resources Officer Janelle Gale said in a memo obtained by Bloomberg News.
Bay Area layoffs affect about 200 employees as Meta pours billions into AI infrastructure
Mark Zuckerberg, CEO of Meta Platforms Inc., appears at the Meta Connect event in Menlo Park, California. (David Paul Morris/Bloomberg via Getty Images/Getty Images)
A Meta spokesperson declined to comment on the layoffs, but confirmed the memo and its contents to FOX Business.
Other technology companies are also cutting jobs amid a boom in AI spending. Microsoft on Thursday offered voluntary retirement to about 8,750 employees, or 7% of its U.S. workforce, according to Bloomberg.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| meta | Meta Platforms Co., Ltd. | 659.15 | -15.57 |
-2.31% |
Gale wrote in the memo that the layoffs are “part of our continued efforts to enable us to operate the company more efficiently and offset other investments we are making.”
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Meta said in a memo to employees that it plans to lay off about 8,000 employees. (Arda Kukukaya/Anadolu via Getty Images/Getty Images)
“This is not an easy trade-off. It means letting go of people who have made meaningful contributions to the meta during their time here,” she said.
Laid-off employees will be provided with generous severance benefits and career support services to help them find other work, and immigration support will be provided for those who need it.
Meta is considering significant job cuts as tech giants increase spending on AI infrastructure. (Getty Images/Getty Images)
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The company previously laid off 11,000 people, or about 13% of its workforce, in November 2022, and cut another 10,000 a few months later. Meta employed about 79,000 people as of Dec. 31, according to its latest filing.
