Meta dismisses 10 per cent of staff to invest in AI

Meta Platforms will lay off 10 per cent of its workforce of around 8,000 employees in May in an effort to streamline its operations and finance large investments in artificial intelligence, the company said in an internal memo, seen by the Wall Street Journal.

In the memo sent to employees, Chief People Officer Janelle Gale noted that the cuts were necessary to enable the company to operate more efficiently and to compensate for its investments. "This is not an easy choice and will involve letting go of people who have made significant contributions to Meta during their tenure here," Gale wrote. The company also let it be known that it will cancel hiring plans for 6,000 open positions, the note said. Affected employees will be informed of their fate on 20 May.