Meta is planning to conduct an initial wave of layoffs planned for May 20 of this year, with further layoffs coming later in the year, according to Katie Paul and Jeff Horwitz of Reuters, citing three sources familiar with the plans. The company will lay off about 10% of its global workforce, or around 8,000 employees, in the first round of layoffs, one source added.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on META:
- Nebius (NBIS) Surges 90% YTD on AI Demand, But Wolfe Assigns Hold Rating – Here’s Why
- White House to Press Anthropic on Mythos AI Model as EU Talks Escalate
- OpenAI Just Made Codex a Lot More Dangerous for Anthropic
- Nvidia Stock Slaughters Rivals AMD & Intel as the as Blackwell Ultra Racks ‘Lead the Market by Two Generations’
- OpenAI Debuts GPT-Rosalind, Its First AI Model Built Exclusively for Scientists