Meta to Lay Off Hundreds of Employees

Meta Platforms is laying off a few hundred people across multiple teams on Wednesday, a source familiar with the matter told Reuters. These personnel reductions follow earlier reports suggesting broader company workforce adjustments.

Credirt: UNSPLASH

Previously, reports indicated Meta was planning sweeping layoffs that could affect 20% or more of its workforce. Senior leaders were reportedly told to begin planning for potential reductions.

The current round of layoffs is on a smaller scale compared to these earlier projections. According to an earlier report in The Information, the cuts would affect Meta's Reality Labs division, social media teams and recruiting operations.

A Meta spokesperson stated, "Teams across Meta regularly restructure or implement changes to ensure they’re in the best position to achieve their goals. Where possible, we are finding other opportunities for employees whose positions may be impacted,"

The parent company of Facebook aims to offset escalating costs related to significant investments in artificial intelligence (AI). The organisation has forecast total expenses of USD 162 billion to USD 169 billion in 2026.

Rising employee compensation also contributes to these costs, as the company spends millions to hire top AI talent. According to its annual filing, Meta had nearly 79,000 employees as of Dec. 31.

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• Meta Platforms is laying off hundreds of employees across various teams.

• These layoffs are described as smaller in scale compared to earlier reports of potential broader workforce reductions.

• Cuts are expected to affect Meta's Reality Labs division, social media teams, and recruiting operations.

Source: REUTERS