The app brings lots of live channels and on-demand to the VR world.
The Facebook parent disclosed the layoffs in a memo sent to staff Thursday.
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The company said the 10% workforce cut is needed to run more efficiently and offset other investments. It will also cancel plans to hire for 6,000 open roles.
Meta is cutting about 10% of its workforce on May 20, the company just announced. The mass layoff is being done to "run the company more efficiently" and offset huge AI investments.
Meta is planning to cut 10% of its workforce, amounting to 8,000 employees, according to a report from Bloomberg. Meta also will not hire for 6,000 roles that are currently open.
Meta will lay off 10% of its workforce, equating to about 8,000 employees, as it continues investing heavily into artificial intelligence, the company confirmed on Thursday. In this article META
Employees at Meta Platforms may soon feel like they're spilling TMI to their employer's MCI.
META rolls out Live Chats on Threads, aiming to boost real-time interaction and user engagement as competition heats up in the digital ad space.
Mark Zuckerberg's Meta tried to delay posting bond for millions of dollars in damages after it was found liable for fueling teen social media addiction in a historic California state court ruling last month, documents revealed.
Meta announced on Thursday an improved Meta Account system designed to make it easier for users to sign in and manage their Meta accounts and devices.
Meta Platforms is poised for strong FQ1 2026 earnings, driven by robust revenue growth and consistent earnings beats. META's forward P/E of 22.15 and accelerating AI-driven monetization signal a compelling valuation, with a fair value estimate 20% above current levels. WhatsApp's premium subscription testing and significant cost-saving layoffs enhance both monetization and operating efficiency for META.