Meta is laying off hundreds of employees, source says

Meta Platforms is laying off a few hundred people across multiple teams on Wednesday, ​a source familiar with the matter told ‌Reuters.

Reuters reported earlier this month that Meta was planning sweeping layoffs that could affect 20% or more of the ​company’s workforce and that top executives had signaled ​the plans to other senior leaders and ⁠told them to begin planning how to pare ​back.

Wednesday’s layoffs were on a smaller scale. According ​to an earlier report in The Information, the cuts would affect Meta’s Reality Labs division, social media teams and recruiting ​operations.

“Teams across Meta regularly restructure or implement ​changes to ensure they’re in the best position to achieve ‌their ⁠goals. Where possible, we are finding other opportunities for employees whose positions may be impacted,” a Meta spokesperson said in a statement.

The Facebook parent is ​seeking to ​offset rising ⁠costs tied to massive investments in artificial intelligence, having forecast total expenses of $162 billion ​to $169 billion in 2026, and rising ​employee compensation ⁠as the company spends millions to hire top AI talent.

Meta had nearly 79,000 employees as of ⁠December ​31, according to its annual filing.