Insider: Meta is cutting more than 20 percent of its jobs

A date for the cuts has not yet been set and the exact extent has not yet been determined. However, executives recently informed senior managers of the plans and instructed them to begin planning for job cuts.

A spokesperson for Meta rejected the report upon request. “This is one speculative reporting about theoretical approaches,” said company spokesman Andy Stone.

Would be the biggest job cuts since the company was founded

If Meta decides to cut 20 percent, it would be the company’s most significant job cuts since its restructuring in late 2022 and early 2023.

According to its most recent report, the group employed almost 79,000 people as of December 31st. In November 2022, the company laid off 11,000 employees, which corresponded to around 13 percent of the workforce at the time. About four months later, it announced it would cut another 10,000 jobs.

CEO Mark Zuckerberg Since last year, Meta has been pushing ahead with Meta’s plans to become more competitive in the field of generative AI. The company has invested heavily in attracting AI researchers and acquiring companies.

In January, Zuckerberg pointed to efficiency gains from the investments: “Projects that used to require large teams can now be done by a single, very talented person,” he said. Meta’s plans reflect a general trend among major U.S. companies this year, particularly in the technology industry.