Meta planning sweeping layoffs

Meta is planning sweeping layoffs ​that could affect 20% or more of the company, three sources familiar with the matter told Reuters․

The publication notes that Meta seeks to offset costly artificial intelligence infrastructure bets and prepare for greater efficiency brought about by AI-assisted workers.

No date has been set for the cuts and the magnitude has not been finalized, the people said.

The company laid off 11,000 staffers in November 2022, or around 13% of its workforce at the time. Around four months later, it announced it was cutting another 10,000 jobs.