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Meta Cuts 8,000 Jobs to Fund $115B AI Budget

4/24/2026

33 8 Full Breakdown

Summary

Story summary

Meta Platforms Inc. will cut 8,000 jobs, 10% of its staff, on May 20, 2026.
Chief People Officer Janelle Gale said cuts and a freeze on 6,000 hires aim to fund AI spending.
Workers will receive 16 weeks of pay, two weeks per service year, and 18 months coverage.
Meta expects 2026 AI capital spending of $115 billion to $135 billion, expenses of $162 billion to $169 billion, and a share decline of 2.4% to $658.40.

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Story summary

Meta Platforms Inc. will cut 8,000 jobs, 10% of its staff, on May 20, 2026.
Chief People Officer Janelle Gale said cuts and a freeze on 6,000 hires aim to fund AI spending.
Workers will receive 16 weeks of pay, two weeks per service year, and 18 months coverage.
Meta expects 2026 AI capital spending of $115 billion to $135 billion, expenses of $162 billion to $169 billion, and a share decline of 2.4% to $658.40.