Memo: Meta plans to cut 10% of workers, or ~8,000 jobs, on May 20 and won't fill 6,000 open roles, in an effort to offset its AI spending and boost efficiency (Kurt Wagner/Bloomberg)

Kurt Wagner / Bloomberg: Memo: Meta plans to cut 10% of workers, or ~8,000 jobs, on May 20 and won't fill 6,000 open roles, in an effort to offset its AI spending and boost efficiency — Meta Platforms Inc. plans to cut 10% of workers, or roughly 8,000 employees, in an effort to boost efficiency and offset its heavy spending on artificial intelligence.