Meta to cut 8,000 jobs in new wave of layoffs, report says
San Francisco Chronicle • • business
Key Points:
- Meta is set to cut about 10% of its global workforce, or nearly 8,000 employees, starting May 20, with additional layoffs planned for 2026, according to Reuters sources.
- These layoffs would be Meta's largest since its 2022-2023 restructuring, during which approximately 21,000 jobs were eliminated as part of a "year of efficiency."
- Despite generating over $200 billion in revenue and $60 billion in profit last year, Meta is restructuring to build its AI business, aiming for a leaner organization with fewer management layers and more AI-assisted work.
- The company has reorganized teams within Reality Labs and created an Applied AI group focused on AI agents capable of coding and complex tasks, with some employees potentially reassigned to the newly formed Meta Small Business unit.
- Meta has already reduced jobs in the Bay Area this year, including nearly 200 cuts in Burlingame and Sunnyvale, while stating it seeks to find alternative opportunities for impacted employees where possible.
