Mark ZuckerbergMeta plans to cut 10% of its workforce in May. The company’s decision will affect approximately 8,000 employees, according to Bloomberg. Employees were informed of the development in an internal memo shared by Meta chief people officer Janelle Gale. The decision comes amid the company’s increased spending on artificial intelligence (AI) projects.
The company reportedly disclosed in the memo, layoffs Will start on May 20th. Meta further pledged to provide “generous sewage treatment facilities” to those affected. It also announced that 6,000 vacant positions would not be filled.
According to “Business Insider” ReportLaid-off workers in the U.S. will receive 16 weeks of base pay plus two weeks for each year worked. They will also receive 18 months of employee COBRA health insurance. The outlet further reviewed an internal memo Gale sent to Meta employees.
Read the full memo:
Over the past few weeks, we have been making some changes to our organization that will result in us laying off approximately 10% of the company’s employees on May 20 and closing approximately 6,000 open positions. Normally we would like to iron out more details before communicating broadly, but since this matter has leaked, I wanted to share what I can now. I know this is unwelcome news and confirming this will put everyone on edge, but given the circumstances we feel this is the best path forward.
We do this as part of our ongoing efforts to operate the company more efficiently and offset other investments we are making. This is not an easy trade-off, and it means letting go of people who have made meaningful contributions to Meta during their tenure there.
We will provide those who are laid off with generous severance packages, which in the United States include 16 weeks of base pay, plus two weeks of pay for each year of employment. We will also pay for 18 months of COBRA health insurance for U.S. employees and their families. Packages outside the U.S. will be similar but vary by country with local timelines and processes. We will also provide careers services to support people in finding another role and immigration support for those who need it. We will share more details in a follow-up post before May 20th.
For notifications, we will follow the same process as before: on May 20th, anyone affected will receive an email to their work and personal accounts – please make sure your personal email is updated in Workday.
Also read: Disney CEO reveals “tough news” to employees about layoffs Read his full memo
I know this will leave everyone in a state of limbo for nearly a month, which is incredibly unsettling. We’ll try to answer your questions in the comments, but won’t be able to share more information until later in May as we’re still working out the details. In the meantime, you can find more information on the People Portal, which includes our standard FAQs and logistical details on the layoffs.
