Meta is set to lay off around 8,000 employees, marking its largest job cuts in history, with the process beginning on May 20. This substantial reduction will account for approximately 10% of its workforce, as the company navigates challenging economic conditions.
As the tech industry faces ongoing pressures, these layoffs come at a time when other companies, including Oracle, are also announcing workforce reductions. Employees in certain roles are reportedly at higher risk of being affected by these cuts.