Workforce Reductions Set to Begin This Week
Meta Platforms (NASDAQ:META) is reportedly preparing to cut approximately 8,000 jobs this week, equal to roughly 10% of its workforce, according to a CNBC report published Monday.
The company has also reportedly scrapped plans to hire for about 6,000 vacant positions.
The layoffs are expected to begin on Wednesday.
Company Shifts Focus Toward Efficiency and AI Spending
The latest round of job reductions marks a different tone from Meta’s earlier layoffs in late 2022 and early 2023, when CEO Mark Zuckerberg admitted he “got this wrong” after eliminating around 21,000 roles during what he described as Meta’s “year of efficiency.”
According to the report, Meta has now informed employees that the latest workforce reductions are “all part of our continued effort to run the company more efficiently and to allow us to offset the other investments we’re making.”
The cuts come as the company continues ramping up spending on artificial intelligence infrastructure and related initiatives.
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