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Meta intends to conduct a first wave of sweeping layoffs planned for this year on May 20.
Meta will lay off about 8,000 employees, or 10% of its global workforce, on May 20.
KEY POINTS
- Further Meta layoffs are planned later this year, with size and timing yet undecided.
- Executives may alter layoff plans depending on progress in Meta’s artificial intelligence capabilities.
- Meta has created a new 'Applied AI' organization for developing autonomous AI agents.
- Some staff will be transferred into the recently formed Meta Small Business unit as part of restructuring.
COMPANIES
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