Meta Announces 10% Workforce Reduction to Focus on AI Investments
Meta has announced plans to cut 10% of its workforce, approximately 8,000 employees, as it shifts focus toward artificial intelligence. The layoffs will begin on May 20, and the company is canceling plans to hire for 6,000 open roles. Meta's stock has fallen about 2.4% following the announcement.
Tickers: $META
Topics: Artificial Intelligence Layoffs Meta Workforce Reduction