business / news / / India Today
Meta is preparing for another major round of layoffs, with 8,000 employees set to lose their jobs this week on May 20.
Meta will lay off 8,000 employees, nearly 10% of its global workforce, on May 20.
KEY POINTS
- Laid-off US employees will receive at least 16 weeks base salary and 18 months healthcare coverage.
- Meta says layoffs are linked to reorganization for AI-driven productivity and efficiency, not direct AI replacement.
- Meta cannot guarantee more layoffs won't occur after May, with Applied AI divisions being emphasized.
- Projected Meta infrastructure investment is expected to reach $125–$145 billion this year, mainly for AI.
COMPANIES
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