Meta To Unleash First Wave Of Mass Layoffs May 20 As It Eliminates 10% Of Its Workers
The FaceBook currently known as Meta for one failed venture that incinerated nearly $100 billion in cash for its failed transformation to a virtual reality hub while laying off thousands, is at it again. As we previewed a few weeks ago, Meta – which inexplicably hasn’t changed its name to AIbook yet – will proceed with the first wave of mass layoffs planned for this year on May 20, with more coming later, Reuters reported citing sources. The Facebook and Instagram owner will lay off about 10% of its global workforce, or close to 8,000 employees, in that initial round, as it swaps headcount for GPUs. And that’s just the start: the company is planning further layoffs in the second half of the year, although details of those cuts, including date and size, have yet to be determined and will depend on just how much more money Meta burns in its experiment to prove that AI will actually generate positive cash flow. Last month, Reuters reported that the company was planning to lay off 20% …








