Meta's planning these cuts (per Reuters) to offset exploding AI infrastructure costs, such as billions in data centers, GPUs, and training for their Llama models and AGI push, while betting AI tools will supercharge productivity so fewer employees can handle the load.

No date has been set for the cuts and the magnitude has not been finalized, the people said.

If Meta settles on the 20% figure, the layoffs will be the company's most ​significant since a restructuring in late 2022 and early 2023 that it dubbed the "year of efficiency." It employed nearly 79,000 people as ​of December 31, according to its latest filing.

The company laid off 11,000 staffers in November 2022, or around 13% of its workforce at the time. Around four months later, it announced it was cutting another 10,000 jobs.

Source: Reuters