Meta told employees it plans to lay off 10% of staff in May, citing efficiency and rising costs. Staff will get severance and extended benefits.

Meta plans 8,000 layoffs in May as company redirects resources toward artificial intelligence and efficiency goals

Meta (META) stock drops 2.31% after announcing 8,000 layoffs and canceling 6,000 open positions to fund its massive $135 billion AI infrastructure push.

Mark Zuckerberg’s social media giant is facing challenges on multiple fronts at a time when Big Tech companies are feeling increased investor pressure. Yesterday, shares of Facebook and Instagram owner Meta Platforms (Nasdaq: META) dropped nearly 8% in a single trading session,

A new lawsuit against Meta claims it profited billions from scam ads while misleading users about its efforts to fight against them. You may have seen these ads before – here’s a look.

Mark Zuckerberg-led Meta has confirmed it plans to slash about 8,000 jobs — roughly 10% of its workforce — informing employees of the sweeping cuts on Thursday. The Facebook parent disclosed the layoffs in a staff memo, signaling that the company is moving ahead with a massive workforce reduction as it pours billions into artificial intelligence.