March 14, New Delhi: Meta Platforms, the parent company of Instagram and Facebook, is planning significant layoffs that could affect 20 percent or more of its workforce.
The move comes as the company seeks to offset the rising costs of artificial intelligence infrastructure and prepare for greater efficiency brought about by AI-assisted workers.
No specific date has been set for the layoffs, and the final scale has not yet been determined. If the company decides on a 20 percent reduction, these layoffs would be its most significant since a restructuring in late 2022, when Meta laid off 11,000 employees.