According to a report, Meta is planning to cut 10% of its workforce i.e. 8,000 employees. bloomberg. Meta also will not be hiring for the 6,000 roles that are currently open.
Meta told employees the cuts would begin May 20, according to an internal memo sent to employees Thursday and seen by Bloomberg. Reuters said mentioned earlier On Meta’s plans for widespread layoffs.
TechCrunch has contacted Meta for comment.
“We are doing this as part of our continued effort to allow the company to run more efficiently and offset other investments we are making,” Chief People’s Office Janelle Gale told employees, according to the memo. “This is not an easy compromise and it will mean letting go of people who have made meaningful contributions to Meta during their time here.”
Meta spent tens of billions of rupees on its metaverse efforts, which were massive fail. The company has also had to invest big in its AI efforts to keep up with competitors in the space — earlier this month, it introduced an entirely revamped AI product called muse spark.
