Techabout 20 hours ago· 1 min read
Meta Announces 8,000 Job Cuts—10% of Workforce—to Fund AI Investment Push
Meta confirmed it will lay off 10% of its workforce, equivalent to about 8,000 employees, as the social media giant doubles down on artificial intelligence investments while scrapping plans to hire for 6,000 open roles.
Workforce Reduction Details
Key Facts:
- Layoff size: 10% of Meta's workforce (approximately 8,000 employees)
- Effective date: Job cuts to begin May 20
- Hiring freeze: Scrapping plans to hire for 6,000 open positions
- Reason: Continued heavy investment in artificial intelligence
- Stock impact: Meta shares down more than 2% to $659.29
Strategic Shift
The announcement signals Meta's commitment to prioritizing AI development over traditional workforce expansion. The company confirmed the layoffs through a memo to employees reported by Bloomberg News.