Meta laying off hundreds of employees, source says
Meta Platforms is laying off a few hundred individuals across multiple teams on Wednesday, a source familiar with the subject told Reuters.
An illustrative image related to: Meta laying off hundreds of employees, source says, highlighting key aspects of the story. | Image source: The Express Tribune
Meta laying off hundreds of employees, source says
Meta Platforms is laying off a few hundred individuals across multiple teams on Wednesday, a source familiar with the subject told Reuters.
Reuters reported earlier this month that Meta was planning sweeping layoffs that could affect 20% or more of the firm's workforce and that top executives had signalled the plans to other senior heads and told them to begin planning how to pare back.
Wednesday's layoffs were on a smaller scale. According to an earlier summary in The Information, the cuts would affect Meta's Reality Labs split, social media teams and recruiting operations.
"Teams across Meta regularly restructure or implement changes to secure they’re in the best placement to achieve their goals. Where possible, we are finding other opportunities for employees whose positions may be impacted,” a Meta spokesperson said in a remark.
The Facebook parent is seeking to offset rising costs tied to immense investments in artificial intelligence, having forecast total expenses of $162 billion to $169 billion in 2026, and rising employee compensation as the firm spends millions to hire top AI talent.
Meta had nearly 79,000 employees as of December 31, according to its annual filing.
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