Meta Platforms will lay off roughly 8,000 employees, about 10% of its workforce, effective May 20.
The cuts also include freezing hiring for 6,000 open positions as the company offsets heavy AI-related capital expenditures.
Chief People Officer Janelle Gale announced the move, citing efficiency goals while CEO Mark Zuckerberg drives AI talent and infrastructure investments.
US employees will receive 16 weeks base pay plus two weeks per year of service and 18 months of COBRA health coverage.