Meta
Mark Zuckerberg
"Overhiring during pandemic-era boom; revenue growth decelerated sharply"
Mark Zuckerberg
Meta has announced it will lay off 11,000 employees, which represents 13% of its workforce. The company cites overhiring during the pandemic and a sharp decline in revenue growth as the reasons for these cuts, despite its significant investment of $14 billion in AI, which suggests a potential focus on future technology rather than immediate workforce needs.
| Headcount affected | 11,000 |
|---|---|
| Workforce % | 13% |
| Company | Meta |
| CEO | Mark Zuckerberg |
| Geography | Global |
| Hypocrisy score | 100/100 |
| Source | Meta lays off 11,000 employees, about 13% of its workforce |
Loading stock timeline…
According to an internal memo, Meta plans to begin its sweeping layoffs on May 20.
The publication noted that Reality Labs had roughly 15,000 employees, and the job cuts could impact over 1,000 people.
Performance-based culling to raise the bar and redirect headcount toward AI infrastructure