Meta is laying off 10 percent of its staff
Meta is planning to layoff around 10 percent of employees in May, according to a memo from the company's chief people officer, Janelle Gale, published by Bloomberg. That means approximately 8,000 people will see their jobs cut. Meta will also be closing around 6,000 open roles, according to Gale.
The cuts follow Meta's significant investments in AI, including spending huge sums to hire top talent and build data centers. The company forecast in January that it will spend $115 billion to $135 billion in capital expenditures in 2026 - a significant increase from its $72.22 billion in capital expenditures for 2025. The increase is to "support o …