As part of the first wave of its job cuts this year, Meta Platforms is planning to cut 8,000 employees. The layoffs are seemingly an effort to boost efficiency and reportedly to make up for the company’s massive spending on artificial intelligence (AI).
According to a report in Bloomberg, Meta Platforms revealed the layoffs in an internal memo sent to employees on Thursday, April 23. The memo stated that the layoffs will come in effect on May 20. Reportedly, the social media giant has said that it will not be hiring staff for the 6,000 open roles that it had planned to fill earlier.
In the memo, chief people officer, Janelle Gale, told the employees that the job cuts were being carried out as part of the company’s continued effort to run the company more efficiently and to allow us to offset the other investments it was making.
The memo further stated that it was not an easy trade-off and it will mean letting go of people who have made meaningful contributions to Meta during their time with the company.
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