"Meta is doing this as part of our continued effort to run the company more efficiently and to allow us to offset the other investments we're making. This is not an easy tradeoff and it will mean letting go of people who have made meaningful contributions to Meta during their time here."
"Affected staffers will be notified on May 20th. I know this leaves everyone with nearly a month of ambiguity which is incredibly unsettling."
Meta is set to lay off around 10% of its employees, translating to approximately 8,000 job cuts, as part of a strategy to enhance efficiency. The company is also closing about 6,000 open roles. This decision follows significant investments in AI, with projected capital expenditures increasing to $115 billion to $135 billion by 2026. Meta's chief people officer, Janelle Gale, emphasized the difficult nature of these layoffs, which will affect employees who have contributed meaningfully to the company.
Read at The Verge
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