Meta to Cut 8,000 Jobs, Slashing 10% of Workforce to Fund AI Investment

【Financial News, New York City = Reporter Lee Byung-chul】  Meta Platforms, Inc. is moving ahead with a major restructuring to expand investment in artificial intelligence (AI). The company will cut about 8,000 jobs, or 10% of its total workforce, and sharply reduce new hiring as it begins a broad effort to streamline operations.
The Wall Street Journal (WSJ) reported on the 23rd, local time, that Meta plans to lay off about 10% of its employees in May, according to an internal memo. The move is seen as an effort to improve operational efficiency while covering the heavy costs of its AI investments.
Janelle Gale, Chief People Officer (CPO), said, "This is a necessary decision for the company to operate more efficiently," adding that it was "an unavoidable choice to offset the costs of expanded investment."
She added, "This decision is by no means easy, and it is a difficult choice because it means parting with talented people who have made meaningful contributions to the company."
Along with the layoffs, Meta is also drastically scaling back hiring plans. It has decided to cancel all of the roughly 6,000 new hires currently in progress.
Employees affected by the layoffs are expected to be notified on May 20.
A Meta spokesperson did not issue a separate official statement on the measure.
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pride@fnnews.com Reporter Lee Byung-chul Reporter