Meta Announces Major Layoffs Amid Record Profits and AI Investments
Meta reported record profits in Q1 2026 with $56.31 billion revenue and $26.8 billion net income, but announced plans to lay off approximately 8,000 employees later that month. CEO Mark Zuckerberg addressed the layoffs during a town hall meeting on April 30, clarifying they were not driven by AI tools. CFO Susan Li stated the move was part of efforts to streamline operations and offset significant investments in AI.
Tickers: $META
Topics: AI investment layoffs Mark Zuckerberg Meta