Why Meta is laying off 10% of its workforce

Meta, the parent company of Facebook and Instagram, is planning to lay off 8,000 employees, or roughly 10% of its workforce, in May, as it seeks to cut costs to better prepare to do more with artificial intelligence. Meta told its employees about the layoffs in a Thursday memo that said the company will also close 6,000 open roles. Bloomberg earlier reported about the memo. Meta is among tech ...