ByMARTHA WILLIAMS, US REAL ESTATE & CONSUMER REPORTER
Updated:14:29 EDT, 23 April 2026
Meta has confirmed it will slash roughly one in 10 jobs - around 8,000 roles - as Mark Zuckerberg plows billions into artificial intelligence in a bid toreshape his companyaround the fast-moving technology.
The cuts, first reported earlier this month, were confirmed by the company on Thursday.
Meta will initiate the job cuts on May 20, and is discarding all plans to hire people to fill 6,000 roles that are currently open, according to a memo sent to employees, reported on byBloomberg.
Meta shares aredown about 2.4 percentin midday trading to $658.40.
It marks one of the biggest shake-ups at Meta Platforms since itsbrutal 'year of efficiency'drive in 2022 and 2023, when the tech giant cut 21,000 jobs.
Back then it was losing money. Now Meta ismaking huge profits- more than $60 billion last year - and pulling in over $200 billion in revenue. But instead of hiring, it is shrinking.
Zuckerberg is pouring hundreds of billions into building out artificial intelligence systems.
Meta has 31 data centers across the globe, with server space to process and store the billions of messages, posts, and images circulated on Facebook, Instagram and WhatsApp every single second of the day.
Source: Drudge Report
