Meta, led by Mark Zuckerberg, is planning to cut nearly 8,000 jobs in May, representing 10% of its workforce. The layoffs were announced in an internal memo by chief people officer Janelle Gale. The decision comes as the company invests heavily in artificial intelligence projects.
The company has promised generous severance packages to affected employees, including 16 weeks' base pay plus 2 weeks' pay for every year of employment. Laid-off employees in the US will also receive 18 months of COBRA health coverage.
Meta has also decided not to fill 6,000 open roles. The layoffs are set to begin on May 20, with affected employees receiving notifications via email.
