Meta has commenced a new round of layoffs affecting approximately 10% of its workforce, equating to roughly 8,000 jobs. Emails were sent to some impacted employees in Asia on the morning of May 20.
The cuts are meant to offset the cost of the company’s investments in artificial intelligence. The parent company of Facebook and Instagram has been investing huge sums of money in AI, but it currently lags behind competitors.
In addition to the layoffs, Meta has canceled hiring plans for 6,000 roles amid its ongoing pivot to artificial intelligence development.