Meta’s reported 20% layoff could bring headcount to its lowest level since 2021
Meta is rising Monday morning after Reuters reported the tech giant is planning to lay off 20% of its employees in an effort to use AI to make its workforce more efficient and offset its surging AI capex costs.
On the company’s last earnings call, CEO Mark Zuckerberg touted 30% efficiency gains for its software engineers and said some “power users” of the company’s AI coding tools saw productivity jump as high as 80% — what some saw as a veiled threat to employees who failed to use AI to boost their output.
Meta’s headcount was nearly 79,000 last quarter, having steadily risen since its layoffs during the self-described “year of efficiency” in 2023. A 20% cut would bring headcount to around 63,000 — the company’s lowest level since 2021.
Shares were recently up 2.7%.
Meta’s headcount was nearly 79,000 last quarter, having steadily risen since its layoffs during the self-described “year of efficiency” in 2023. A 20% cut would bring headcount to around 63,000 — the company’s lowest level since 2021.
Shares were recently up 2.7%.
