Overview
- Meta, which told staff Thursday, plans to lay off about 8,000 people, roughly 10% of its workforce, and remove 6,000 unfilled roles.
- An internal memo from HR chief Janelle Gale says the cuts aim to run the company more efficiently and help offset the cost of its AI drive.
- The company guides to $115–$135 billion in 2026 spending focused on AI capacity, including a February deal to buy millions of AMD chips for at least $60 billion.
- Bloomberg reported an internal note that sets May 20 for the layoffs to take effect.
- Meta shares fell nearly 3% minutes after the announcement on the New York Stock Exchange.