Reuters exclusively reported that Meta will begin its first wave of layoffs on May 20, targeting roughly 8,000 employees — about 10% of its ~79,000-person global workforce — with additional cuts expected later in 2026. CEO Mark Zuckerberg is redirecting resources toward AI infrastructure, and the company framed the move as reflecting a broader pattern of AI-driven efficiency across major tech firms. This is Meta's most significant workforce reduction since its 2022–23 "year of efficiency," which eliminated roughly 21,000 positions. Reuters via Yahoo Finance