Meta to commence layoffs of 10 pc of workforce from May 20

New Delhi: US-based tech giant Meta will begin laying off 10 per cent of its global workforce from Wednesday, May 20, and bolster its artificial intelligence initiatives as part of a sweeping reorganisation aimed at streamlining operations, as per multiple reports.

According to them, the company seeks to eliminate some managerial roles and reorganise teams to create “AI‑native” structures with smaller teams intended to speed up decision‑making, according to multiple reports.

The company reportedly indicated that it will close about 6,000 open positions and that the overall changes, including transfers, will affect roughly 20 per cent of its current workforce.

If implemented at that level, the job cuts could affect roughly 16,000 employees, based on Meta’s workforce of nearly 79,000 people as of December 31.

Some employees have reacted strongly to the overhaul, staging protests at company offices and posting complaints on Meta’s internal platform, Workplace.

Over 1,000 staff have signed a petition opposing new mouse-tracking software the company is using to train AI systems, citing privacy concerns.

Meanwhile, global tech layoffs are accelerating in 2026, with more than 80,000 jobs already cut in the first quarter and total losses likely to exceed 3 lakh this year, led by companies like Oracle, Amazon, and Meta, a report has said.

Another recent report by TradingPlatforms highlighted that the latest wave of layoffs builds on a broader post-pandemic correction, with over one million tech jobs lost globally since 2021 as companies recalibrate hiring after the Covid-era expansion.

AI and automation have emerged as key drivers of this transformation, with nearly half of all layoffs in 2026 linked to AI-related restructuring.

Moreover, the US remains the worst-hit market, accounting for nearly 77 per cent of global layoffs so far this year, with over 61,000 job cuts across 62 companies.

Among companies, Oracle has reported the highest number of layoffs globally in 2026, cutting more than 25,000 roles as part of a major restructuring tied to its AI infrastructure push.

IANS

Top Indian firms lose Rs 3.12 lakh crore in market valuation last week

Mumbai: The combined market valuation of nine of the country’s top-10 most valued companies declined by Rs 3.12 lakh crore last week amid a sharp sell-off in domestic equities triggered...

Crude oil prices jump 8 pc this week as US-Iran tensions stoke Hormuz supply fears

New Delhi: Global oil prices surged sharply this week, with benchmark crude contracts ending Friday’s session more than 3 per cent higher, after renewed tensions between the United States and...

India’s forex reserves jump $6.3 billion to $696.99 billion on surge in gold holdings

Mumbai: India’s foreign exchange reserves rose sharply by $6.295 billion to $696.988 billion during the week ended May 8, mainly driven by a significant increase in gold reserves, according to...

Asian Boxing U15 & U17 C’ships 2026: India secures two gold; U-17 girls lead with 12 medals

Tashkent: India concluded its U-17 campaign at the Asian Boxing Championships 2026 with a total of 17 medals, including 2 gold, 7 silver and 8 bronze, with the girls’ contingent...

SEBI relaxes borrowing norms for InvITs above 49 pc leverage limit

Mumbai: Securities and Exchange Board of India (SEBI) on Friday relaxed borrowing norms for Infrastructure Investment Trusts (InvITs) with leverage exceeding 49 per cent of asset value, a move aimed...

Gold, silver tumble up to 4 pc amid stronger dollar, rising crude prices

New Delhi: Gold and silver prices traded sharply lower on Friday, with both precious metals declining in domestic trade by up to 4 per cent amid strength in the dollar...

Rupee trades lower amid elevated crude prices

New Delhi: The Indian rupee breached the 96-mark against the US dollar on Friday amid persistent global pressures, rising crude oil prices, and continued geopolitical tensions linked to the Iran...

Cisco to cut under 4,000 jobs amid AI-led restructuring

  New Delh: Cisco, a global technology conglomerate, has announced plans to cut fewer than 4,000 jobs globally as part of a restructuring exercise aimed at sharpening its focus on...

RBI chief says fuel prices may go up if Iran war continues

New Delhi: RBI Governor Sanjay Malhotra said that if the Middle East conflict continues, India may be forced to raise petrol and diesel prices due to the soaring cost of...

Public sector banks clock all-time high net profit of Rs 1.98 lakh crore in FY26

New Delhi: The net profit of public sector banks recorded a robust 11.1 per cent increase to scale an all-time high of Rs 1.98 lakh crore in FY 2025–26, marking...

Tier 2 cities outpace metropolitan cities in retail quality, global brand presence: Report

New Delhi: India’s Tier 2 cities are rapidly emerging as major retail and consumption hubs, outperforming several larger urban centres in international brand penetration and quality retail infrastructure, according to...

India has 60 days of crude oil and natural gas, 45 days of LPG rolling stock: Centre

New Delhi: The government on Monday said that there is no shortage of any petroleum product amid the West Asia crisis, as the country has 60 days stock of crude...

Read Previous

Reports by ignorant NGOs: India rebuts Norwegian journalist’s question on press freedom, human rights

Read Next

Two India-origin apps among finalists for 2026 Apple Design Awards

WP2Social Auto Publish Powered By : XYZScripts.com