Meta To Lay Off 10% Of Workforce In May, More Cuts To Follow Later: Report - NDTV Profit

Meta plans to begin layoffs on May 20th, according to a Reuters report cited by NDTV Profit. The initial round is expected to cut about 10% of the company's global workforce, which equates to approximately 8,000 employees. Further layoffs are planned for the second half of the year.

The report states this is the first round of planned layoffs for Meta this year. The layoffs are part of a broader workforce reduction strategy. The company has not provided specific details on which departments or regions will be most affected.

Meta has previously conducted large-scale layoffs in recent years as part of cost-cutting measures. The current plans indicate a continued focus on reducing operational expenses. The layoffs come amid increased investment in artificial intelligence and metaverse technologies.