Reuters

Company

Last mentioned: 3h ago

Timeline

  1. 20% Reduction Report

    Reuters reports plans for a new wave of layoffs targeting 20% or more of the remaining workforce.

  2. Year of Efficiency

    Mark Zuckerberg announces an additional 10,000 job cuts and closes 5,000 open roles.

  3. First Major Cut

    Meta announces its first-ever mass layoff, cutting 11,000 employees (13% of staff).

Stories mentioning Reuters 1

Talent Bearish

Meta Shares Surge as Reports Surface of Massive 20% Workforce Reduction Plan

Meta Platforms is reportedly preparing to slash its global workforce by 20% or more, a move that sent shares climbing as investors cheer further efficiency measures. This potential reduction marks one of the most significant downsizing efforts in the company's history as it pivots toward AI-centric operations.

3 sources