Meta will lay off nearly 8,000 employees and eliminate 6,000 vacant positions to offset the impact of "other investments".

Tech giant Meta announced in an internal memo to employees that it plans to lay off about 10% of its workforce on May 20, affecting approximately 7,800 employees. Additionally, the company will also eliminate 6,000 vacant positions. Meta's Chief Human Resources Officer, Jennifer Gaile, stated in the memo that this large-scale layoff is to "improve company operational efficiency" and offset the impact of "other investments" the company is making. While the memo did not specify what these "other investments" were, Meta has invested billions of dollars in the field of artificial intelligence. The memo stated that the company will provide generous severance packages to employees, including 16 weeks of base pay plus an additional two weeks of pay for each year of service. Employees will also continue to receive COBRA medical insurance coverage for 18 months.