Meta to Cut 8,000 Jobs in First Wave of Layoffs on May 20

META PLATFORMS INC-CLASS A is preparing to initiate a first wave of significant layoffs starting May 20, according to sources familiar with the company's plans. This initial round is expected to result in the departure of approximately 8,000 employees, representing roughly 10% of the company's global workforce. While the social media giant declined to comment on the specifics, insiders suggest that further reductions are likely to follow in the second half of 2026. The restructuring comes as CEO Mark Zuckerberg pivots the company's focus toward artificial intelligence, investing hundreds of billions of dollars to integrate the technology into core operations. This shift mirrors a broader trend within the United States where major corporations are seeking efficiency gains through automation. For instance, AMAZON.COM INC has trimmed its white-collar staff by 30,000 in recent months, and BLOCK INC reduced its headcount by nearly 50% earlier this year. Data from Layoffs.fyi indicates that over 73,000 tech employees have lost their jobs globally so far in 2026. These upcoming cuts follow Meta's previous "year of efficiency" in 2022 and 2023, which saw the elimination of 21,000 roles. However, the company currently operates from a position of relative financial strength, having reported a $60 billion profit on $200 billion in revenue last year. Executives are reportedly aiming for a leaner management structure where AI-assisted workers can handle more complex tasks autonomously. To facilitate this transition, the company has already begun reorganizing its Reality Labs division and moving engineers into a newly formed Applied AI organization. This team is tasked with accelerating the development of AI agents capable of writing code and managing intricate workflows. Some staff members are also being reassigned to the Meta Small Business unit as part of the ongoing internal realignment.