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.