Meta is set to initiate a round of extensive job cuts on May 20, with plans to reduce approximately 10% of its worldwide workforce, equating to nearly 8,000 employees. The information, disclosed by three sources familiar with Meta’s intentions to Reuters, also indicates the likelihood of additional job cuts later in the year, although specifics such as timing and scale are still under consideration. These plans may be subject to adjustments by executives as they evaluate advances in artificial intelligence capabilities.
A prior report by Reuters suggested that Meta, the parent company of Facebook and Instagram, was contemplating slashing 20% or more of its global workforce. Meta refrained from offering any comments to Reuters regarding the exact timing or extent of the upcoming layoffs.
The report elaborates that Meta’s CEO, Mark Zuckerberg, is channeling substantial resources into AI investments as part of the company’s restructuring efforts around this technology. The planned layoffs at Meta mirror a trend seen among prominent U.S. corporations this year. Amazon recently reduced its corporate workforce by 10%, approximately 30,000 roles, while fintech firm Block cut nearly half of its employees in February. Executives at these companies attributed the downsizing to efficiency enhancements driven by AI implementation.
According to data from Layoffs.fyi, a platform monitoring global tech job cuts, the number of job losses in the tech sector has reached 73,212 employees in the current year, surpassing the total of 153,000 job losses recorded in 2024.
The impending job cuts at Meta mark the most significant since the restructuring in late 2022 and early 2023, which Meta labeled as the “year of efficiency” and led to the elimination of around 21,000 positions. During that period, Meta faced declining stock values and challenges associated with unsustainable growth assumptions stemming from the Covid-19 era.
Despite heavy investments in AI technology, Meta remains in a robust financial position, having generated over $200 billion in revenue and a $60 billion profit last year. As of December 31, Meta’s global workforce numbered nearly 79,000 employees.