Meta to cut 10% of workforce — about 8,000 employees

Friends, I’d like to share from the tech world: Meta plans to cut 10% of its workforce — about 8,000 employees.

Bloomberg reports the company also will not fill roughly 6,000 open roles; layoffs will begin May 20.
In an internal memo, HR said the cuts aim to improve efficiency and offset other investments. Previously, Meta invested heavily in the metaverse and is actively investing in AI (new product — Muse Spark).
Why this matters: it will reshape the sector’s labor market and product investment priorities.
What do you think will be the most significant consequences?
#Meta #layoffs #tech #AI