8,000 Employees at Meta Platforms Could Lose Jobs in Upcoming Layoffs on May 20

Meta is reportedly planning to let off some 8,000 workers in its most extensive round of layoffs since its reorganisation in late 2022 and early 2023. The reports indicate that the layoffs are scheduled for May 20. About 10% of the worldwide staff will be let go in that first round by the owner of Facebook and Instagram.

Additional layoffs are scheduled for the second half of the year by the corporation. The exact number and timing of the layoffs, as well as any other relevant facts, remained uncertain.

AI Driving the Job Cuts

In a similar vein, Amazon.com has recently laid off thirty thousand corporate workers. In all, about 10% of its white-collar employees lost their jobs. The financial technology firm Block, on the other side, laid off about 50% of its employees in February. Executives in both cases justified the layoffs by citing AI-driven efficiency improvements.

According to layoffs.fyi, a website that monitors layoffs in the IT industry worldwide, more than 73,000 people have lost their jobs so far this year. A total of 153,000 workers lost their jobs in 2024. The corporation has been doing really well as of late, despite the layoffs. Fewer management levels and more efficiency enabled by AI-assisted workers are the projected future of AI-driven work. Despite massive investments in AI, Meta made over $60 billion in profit last year on over $200 billion in sales.

AI Churning More Layoffs

Following the termination of its contract by Meta, Facebook's parent company, Sama announced a 1,000-person layoff. Official layoff notices have been issued by Sama, affecting 1,108 employees. The company went on to say that it was providing affected workers with the care and respect they deserved. Also announcing huge layoffs is The Walt Disney Company. The CEO, Josh D'Amaro, notified the employees that the TV businesses, ESPN, product, and technology divisions will be cutting about 1,000 jobs.

Many of the Disney layoffs, according to a media report, will occur in the newly merged marketing department. Disney has been cutting costs like crazy and getting all of its departments, particularly those dealing with online operations, to work together. The firm has been consolidating long-overdue activities to make that possible. With the appointment of Asad Ayaz as chief marketing officer in January, the firm finally unified its marketing efforts across entertainment, events, and sports.