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Meta Cuts 8,000 Jobs and Cancels 6,000 Hires While Reporting Record $56 Billion Quarter in AI Pivot

Meta Platforms began laying off approximately 8,000 employees on May 20, 2026, representing about 10 percent of its global workforce, even as the company reported a record quarterly revenue of $56 billion. CEO Mark Zuckerberg announced the sweeping restructuring redirects resources away from content moderation, recruiting, and cybersecurity teams toward artificial intelligence development. Meta also canceled plans to hire 6,000 more people and is reassigning 7,000 employees into AI-related roles, while committing $125 billion to $145 billion in capital spending for the year.