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Meta to eliminate 8,000 jobs starting May 20 while doubling down on AI infrastructure investments to control costs
Yahoo Finance AI · April 19, 2026
AI Summary
- •Meta plans to cut approximately 10% of its global workforce (roughly 8,000 roles) beginning May 20, with additional reductions expected later in 2024
- •The layoffs are driven by rising AI infrastructure costs as Meta seeks to manage and optimize its spending
- •The company will deploy AI tools to automate management and operational functions across the business
- •Meta's stock (META) is trading around $688.55 with recent gains of 9.3% over the past week and 16.0% year-to-date
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