Meta targets May 20 for first wave of layoffs

Meta Platforms Inc. has announced plans for a new round of layoffs, with the first wave scheduled to start on May 20, while more is expected to come later as the company continues efforts to restructure operations and reduce costs.

The planned job cuts are expected to affect multiple teams across the company, though the exact number of employees to be impacted has not been officially disclosed. According to one of the sources who spoke with Reuters, the company intends to lay off about 10% of its global workforce, or close to 8,000 employees, in that initial round. 

The move follows earlier workforce reductions as Meta adjusts its priorities toward artificial intelligence and core business areas.

According to reports, internal communications indicate that the layoffs will be carried out in phases, beginning with notifications to affected staff on the scheduled date.

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Earlier, Tribune Online reported that the company has started cutting jobs in its Reality Labs division as part of a strategic shift away from its long-term metaverse agenda toward artificial intelligence (AI) products and mobile devices. 

Meanwhile, this development comes as Meta continues to review spending across its divisions, including the Reality Labs unit, which has recorded significant losses in recent years. The company has been shifting resources toward AI development and advertising technology, which remain key sources of revenue.

Meta has not publicly detailed the scope of the latest cuts, but the expected layoffs add to ongoing changes within the company.

(Reuters)