Meta is laying off 10 percent of its staff

Meta is planning to lay off around 10 percent of its employees in May, which equates to approximately 8,000 job cuts. The company will also close around 6,000 open roles, as stated in a memo from chief people officer Janelle Gale. These layoffs follow Meta's significant investments in AI, with a forecasted increase in capital expenditures from $72.22 billion in 2025 to between $115 billion and $135 billion in 2026.