US EditionMeta to Sack 8,000 Employees, Closing 6,000 Open Job Listings
Meta said the cuts will affect 10% of its workforce as it shifts spending toward artificial intelligence and trims 6,000 open roles.
- Meta Platforms announced in an internal memo on Thursday that it will cut 10% of its workforce, about 8,000 employees, while eliminating 6,000 open roles to accelerate AI-focused development.
- Unlike the 2023 "Year of Efficiency," this decision focuses on investing roughly $125 billion in capital expenditures this year toward AI-focused projects rather than pandemic-era cost correction.
- Meta's 2023 net income jumped 69% to $39.1 billion, and while stock price has pulled back 14% from its peak, the company continues delivering strong growth amid the AI-focused boom.
- CEO Mark Zuckerberg sees AI-powered tools like coding assistants taking over engineering work in coming years, as Meta recently released its Muse Spark model in the competitive LLM landscape.
- Meta remains the only major hyperscaler not invested in Anthropic or OpenAI; strategic focus on AI-focused development could help improve margins and momentum in the competitive technology sector.
19 Articles
19 Articles
Meta employees face a slow-swinging axe and a tough choice: hustle or job hunt
Meta announced it will be laying off about 10% of its staff next month.Bloomberg/Bloomberg via Getty ImagesMeta's plans to cut 10% of its workforce mean workers face the question of how to spend their layoff limbo.The long lead time creates anxiety and a tough choice: hustle or hunt for a new job.HR veterans say going above and beyond likely isn't enough to save workers, but giving up isn't the right move either.When layoffs are looming, do you …
Meta Layoffs: Is the Facebook Parent Getting Ready for Another "Year of Efficiency"?
Key PointsMeta is cutting 10% of its workforce to invest more money into artificial intelligence.The move could help boost margins and make it more competitive in AI models.Meta stock soared following mass layoffs in Nov. 2022. 10 stocks we like better than Meta Platforms › Meta Platforms (NASDAQ: META) has a history of spending aggressively on new technologies with often disappointing results. It acquired the Oculus VR headset maker more than a…
Meta cuts every tenth position worldwide. One reason for this is the cost of AI. And: Why many commercial property owners could be in financial trouble.
Meta to Sack 8,000 Employees, Closing 6,000 Open Job Listings
Meta plans to layoff around 8,000 employees and close 6,000 open job listings, according to a company memo obtained by The Hollywood Reporter. The job cuts, which will affect around 10 per cent of its workforce, will be finalised next month.“Normally, we would want to nail down more details before communicating about this broadly, but since this has leaked, I want to share what I can right now,” wrote Meta chief people officer Janelle Gale to st…
Meta, the parent company of Facebook, Instagram and Whatsapp, will terminate 10 percent of the workforce or around 8,000 employees in May to compensate for the costs of investing in AI. A further 6,000 job vacancies will be closed. Meta therefore affects almost 14,000 jobs.
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