Meta Tells Staff It Will Cut 10% of Jobs in Push for Efficiency

Meta Platforms Inc. plans to cut 10% of workers, or roughly 8,000 employees, in an effort to boost efficiency and offset its heavy spending on artificial intelligence.

The company disclosed the move in a memo sent to employees Thursday, saying the layoffs will come on May 20. Meta also won’t hire workers for 6,000 open roles that it had intended to fill.

The job cuts come as Chief Executive Officer Mark Zuckerberg is spending aggressively on the talent and infrastructure needed to develop state-of-the-art artificial intelligence products, including large language models and chatbots. Meta already projected record capital expenditures this ...