Meta informed its staff that it will let go of roughly 8,000 employees. This massive cut represents approximately 10 percent of its total workforce. The tech giant is making the move as it looks to bolster its presence in the artificial intelligence space.
Employees were told about the sweeping cuts in a recent company memo. The layoffs are expected to begin on May 20 as the company prepares to make heavy investments in AI infrastructure.
"I know this is unwelcome news and confirming this puts everyone in an uneasy state, but we feel this is the best path forward, given the circumstances," Chief People Officer Janelle Gale wrote in the memo obtained by Bloomberg News.
A Meta spokesperson declined to comment directly on the job cuts. However, the representative did confirm the memo and its contents with FOX Business.
Other major tech companies are also making staff reductions amid a massive boom in AI spending. Microsoft recently offered voluntary retirement to around 8,750 employees, representing 7 percent of its domestic workforce.
Gale wrote in her memo that the layoffs are part of a broader corporate strategy. "This is part of our continued effort to run the company more efficiently and to allow us to offset the other investments we’re making," she stated.
"This is not an easy tradeoff, and it will mean letting go of people who have made meaningful contributions to Meta during their time here," Gale added.
Laid-off employees will reportedly receive a generous severance package and career support services. The company is also offering immigration support for foreign workers who are impacted by the cuts.
Meta previously laid off 11,000 workers in November 2022, cutting about 13 percent of its workforce at the time. The Silicon Valley company then eliminated another 10,000 jobs just months later. Meta employed nearly 79,000 people as of the end of last year before these new reductions.