Meta plans to launch its first round of mass layoffs this year on May 20

On April 18, three people familiar with the matter said that MetaPlatforms(META.O) plans to implement the first batch of large-scale layoffs this year on May 20, with further layoffs to follow. One of the sources said that as part of the first round of layoffs, the company will lay off about 10% of its global workforce, or nearly 8000 people. The company also plans to lay off further employees in the second half of this year, but details such as the specific timing and scale have not yet been finalized. The source added that management may adjust plans based on the development of artificial intelligence capabilities. Meta's layoffs this year will be the company's largest since a round of restructuring known as the "Year of Efficiency" from late 2022 to early 2023, when the company cut about 21,000 jobs. The company's financial situation is more stable this time, but management envisions that artificial intelligence will be used to assist employees in achieving fewer management levels and higher efficiency in the future. According to the latest disclosure, as of December 31 last year, Meta had approximately 79,000 employees.