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00:02Meta shared a memo with employees on Monday, outlining plans to lay off 10% of its workforce
00:08on Wednesday and move 7,000 employees to new AI-focused initiatives. Chief People Officer
00:14Janelle Gale said the company will eliminate managerial roles and flatten its organizational
00:19structure. Leaders are redesigning their organizations around AI-native principles,
00:25moving toward flatter structures with smaller, faster-moving teams. In total, the layoffs
00:31and transfers will affect about 20% of Meta's workforce. The company also closed 6,000 open
00:36roles as part of the process. Meta's headcount stood at 77,986 employees at the end of March.
00:44The changes sparked internal protests, with more than 1,000 employees signing a petition against
00:51mouse-tracking software the company plans to use to train its AI models.
00:55For all things money, visit Benzinga.com.
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