Meta Platforms (META) CEO Mark Zuckerberg told employees that he does not expect more company-wide layoffs this year, according to an internal memo seen by Reuters. The message came on the same day the social media giant announced a major restructuring that includes cutting 10% of its global workforce and moving another 7,000 employees into new AI workflow initiatives. Together, the layoffs and transfers affect about 20% of the company’s workforce.
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Zuckerberg also admitted that Meta has not communicated the changes as clearly as it should have. In the memo, he said that the company does not expect additional company-wide layoffs this year and added that communication is one area Meta needs to improve. Some of the employee transfers have already taken place, while others were communicated on Wednesday.
Nevertheless, the restructuring is part of Meta’s overall plan to make AI the main focus of both its products and internal operations. The company is investing heavily in AI agents and wants to use them not only in consumer-facing tools but also in how employees work inside the company. So while Zuckerberg is trying to reassure staff that broader layoffs are not expected this year, Meta is still clearly reshaping the business around AI efficiency.
What Is the Price Target for Meta?
Turning to Wall Street, analysts have a Strong Buy consensus rating on META stock based on 31 Buys, seven Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average META price target of $817.71 per share implies 35.2% upside potential.
