Meta Sets May 20 for First 8,000 Layoffs, More Cuts Later in 2026

Meta Platforms Inc plans a first wave of about 8,000 layoffs—10% of its ~79,000 workforce—starting May 20, with additional reductions later in 2026 as part of an AI-driven efficiency overhaul. Reuters reports broke the news on April 17, prompting shares to rise 1.7-2% to $689 (market cap $1.71T, +3.68% YTD) on optimism for $3-10B annual savings despite $135B capex. April 18-19 updates confirm the timeline, reorganizations like a new Applied AI unit, and parallels to tech peers like Amazon.