Meta and Microsoft announced significant workforce reductions on April 23, collectively affecting up to 23,000 positions. The moves come as both tech giants pivot toward cost control and make massive investments in artificial intelligence.
Meta plans to cut approximately 8,000 jobs, representing 10% of its workforce. In addition to these layoffs, the company will cancel 6,000 open roles effective May 20.
Microsoft is introducing a voluntary retirement programme offering buyouts to up to 8,750 US employees. This marks the first time in the company's 51-year history that it has offered such a scheme, which comes ahead of next week's earnings reports.