Meta is reportedly planning to lay off 10% of its workforce, or 8,000 employees, as part of an effort to improve operational efficiency and offset investments in AI and other areas. The cuts, set to begin on May 20, follow significant spending on metaverse initiatives that largely failed. This reflects broader industry trends of restructuring amid shifting technological priorities.
Background
Meta has faced financial pressures due to heavy investments in its metaverse division and increased competition in AI, leading to previous rounds of layoffs and strategic shifts. The tech industry has seen widespread job cuts as companies adjust to economic conditions and prioritize emerging technologies.
- Source
- TechCrunch
- Published
- Apr 24, 2026 at 02:08 AM
- Score
- 6.0 / 10