Meta layoffs to cut 8,000 workers

Meta Platforms is set to begin layoffs on May 20, impacting approximately 8,000 employees. This reduction represents about 10% of the company's total workforce and is the initial phase of a broader restructuring effort. The layoffs are closely tied to Meta's significant investments in artificial intelligence development. This move signals a strategic realignment of resources as the company prioritizes its AI initiatives amidst a challenging economic landscape.