Meta Platforms is preparing for a new wave of mass layoffs, expected to begin on May 20, according to sources cited by Reuters.
In the first phase, the company that owns Facebook and Instagram plans to lay off about 10% of its global staff, about 8,000 employees. Sources say there could be more cuts in the second half of the year, while plans could change depending on developments in artificial intelligence.
CEO Mark Zuckerberg is investing heavily in AI, aiming to transform the company into a more efficient structure with fewer layers of management.
A similar trend has been seen at Amazon and Block Inc., which have made major layoffs linked to automation through AI.
According to data from Layoffs.fyi, over 73,000 employees in the technology sector have lost their jobs this year.
These moves come after a similar period in 2022–2023, when Meta eliminated about 21,000 jobs during the so-called “year of efficiency”.
Currently, Meta is in a more stable financial position, with over $200 billion in revenue and about $60 billion in profit last year, but it is restructuring teams and shifting its focus towards developing artificial intelligence and process automation./BuzPost/
