The meter will cut 10% of jobs, or 8,000 workers, the report says

Meta plans to cut 10% of its 8,000 workforce, according to a report from Bloomberg. Meta is also not hiring for the 6,000 positions currently open.

According to an internal memo sent to employees on Thursday and seen by Bloomberg, Meta told employees that the cuts would begin on May 20. it has already been said on Meta’s layoff plans.

TechCrunch has reached out to Meta for comment.

“We’re doing this as part of an effort to keep the company running efficiently and to allow us to deal with some of the costs we’re making,” Chief People Officer Janelle Gale told employees, according to the memo. “This is not an easy thing to do and it means leaving people who have contributed to Meta during their time here.”

Meta spent billions on its efforts, which mainly he failed. The company has also had to invest heavily in its AI efforts to keep up with rivals in the space — earlier this month, it released an updated AI tool called Muse Spark.