Meta will cut approximately 5% of its workforce, focusing on low performers. The company plans to notify affected employees by February 10th and provide severance based on prior layoffs. Meta employs more than 72,000 people and has made similar cuts. The company is positioning itself for an intense year, with plans to continue growing in AI and other key technologies. The move follows operational changes within Meta to strengthen its relationship with President-elect Donald Trump.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Meta will cut approximately 5% of its workforce, focusing on low performers.
00:06CEO Mark Zuckerberg confirmed in a memo. The company plans to notify affected
00:10employees by February 10th and provide severance based on prior layoffs.
00:14Meta employs more than 72,000 people and has made similar cuts in the past.
00:19The company is positioning itself for an intense year, with plans to continue growing in AI
00:23and other key technologies. The move follows operational changes within Meta aimed at
00:28strengthening its relationship with President-elect Donald Trump.
00:30For all things money, visit Benzinga.com slash GSTV.