• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

3

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
AILayoffs

Meta laid off 10% of its workforce as Mark Zuckerberg warns that in the AI race ‘success isn’t a given’

Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Reporter
Down Arrow Button Icon
Marco Quiroz-Gutierrez
By
Marco Quiroz-Gutierrez
Marco Quiroz-Gutierrez
Reporter
Down Arrow Button Icon
May 21, 2026, 3:07 PM ET
Mark Zuckerberg, CEO of Meta.
Mark Zuckerberg, CEO of Meta.Tom Williams/CQ-Roll Call, Inc via Getty Images
Add Fortune on Google for similar content.

Meta CEO Mark Zuckerberg has hardened his tone on layoffs. 

Recommended Video

Far from the red-eyed admission of fault he gave when Meta conducted some of its first mass layoffs in 2022, on Wednesday, Zuckerberg dismissed 8,000 workers, or about 10% of its workforce, with a detached-sounding memo that emphasized that “success isn’t a given” in the AI race. As part of the restructuring this week, 7,000 employees were also set to be moved into AI-focused roles, several outlets reported.

“AI is the most consequential technology of our lifetimes,” Zuckerberg said in the memo. “The companies that lead the way will define the next generation.”

Zuckerberg said in the memo that the company doesn’t expect to conduct any other company-wide layoffs this year.

The company will be left with an estimated 71,000 employees after the layoffs, according to its most recent headcount number from December.

Of course, situations change, and the company is not in the same place as it was in 2022. Facing pressure to compete with the likes of AI heavy hitters like Anthropic, OpenAI, and Google, Meta is adjusting its approach to meet the moment. 

In its first-quarter earnings reported late last month, Meta said it would spend between $125 billion and $145 billion on capital expenditures fueled by AI. The upper bound of that spending would be about double the $72 billion Meta spent on capex in 2025. 

A spokesperson for Meta declined to comment to Fortune.

Meta is pouring billions into pursuing Zuckerberg’s plan to develop “personal superintelligence,” that allows anyone to “achieve your goals, create what you want to see in the world, experience any adventure, be a better friend to those you care about, and grow to become the person you aspire to be,” the CEO wrote in a public letter last summer. 

Despite the job cuts, Meta, in its latest quarterly results, reported stellar numbers. Late last month, the company reported $56.3 billion in revenue for the first quarter, up an eye-popping 33% year-over-year, and the company’s largest year-over-year quarterly revenue increase in five years. Its first-quarter net income of $26.7 billion also outperformed analyst expectations. 

Were the Meta layoffs expected?

The layoffs this week were, in a way, expected. In March, Reuters reported the company was preparing for “sweeping” layoffs partly to offset the mounting costs of AI infrastructure. 

Still, some employees online complained about the recent trend to conduct more frequent layoffs and alleged the company has a cutthroat culture of competition.

“Imagine working on a team where every 6 months, one of you is going to get axed. Of course it’s going to become toxic,” wrote Jeremy Bernier, a laid-off senior software engineer at Meta, in a post on X.

Zuckerberg’s tune about layoffs changes

With this week’s layoffs, Meta has officially cut more than 30,000 employees since 2022. In that year, the company conducted the first of its major layoffs with 11,000 employees dismissed. At the time, Zuckerberg’s approach was more subdued.

“I got this wrong, and I take responsibility for that.” he said at the time. 

Zuckerberg’s approach to layoffs evolved, however, when in 2023 he called for a “year of efficiency” and laid off another 10,000 workers and instituted a hiring freeze.

“This is going to be an intense year, and I want to make sure we have the best people on our teams,” he said when announcing the layoffs that year.

It’s not just Meta that is cutting employees as tech companies increase their AI spending. Cisco said earlier this year it plans to cut 4,000 jobs even as its revenue expectations increase due to a boost in orders from hyperscalers for the company’s networking technology. 

Other companies such as fintech firm Block and social media company Snap have pointed to AI as a reason to conduct layoffs. In a note posted to X Thursday, Cloudflare CEO Matthew Prince said the company laid off 20% of its workforce earlier this month despite growing at a rate of more than 30% “because business is changing, and to win the future, Cloudflare needs to change with it.”

Zuckerberg, for his part, defended the layoffs in the memo this week. He said employees appreciate they can take “greater ownership” and “execute their vision” without bureaucracy. 

“We’re transforming our company to make sure it will always be the best place for talented people to have the greatest impact,” Zuckerberg said in the memo.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Marco Quiroz-Gutierrez
By Marco Quiroz-GutierrezReporter
LinkedIn iconTwitter icon

Role: Reporter
Marco Quiroz-Gutierrez is a reporter for Fortune covering general business news.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in AI

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in AI

bis
EconomyMarkets
The central bank of central banks just released its flagship annual report — and it sees a $1 trillion AI investment boom headed for a reckoning
By Nick LichtenbergJune 29, 2026
2 hours ago
paralegal
AIdisruption
The most reassuring argument about AI and jobs quietly explains why Gen Z can’t get one
By Nick LichtenbergJune 29, 2026
5 hours ago
This summer’s heat is a live stress test for data centers—here’s what it’s revealing in real time
AIData centers
This summer’s heat is a live stress test for data centers—here’s what it’s revealing in real time
By Tristan BoveJune 29, 2026
5 hours ago
Photo of Jim Farley
AIAutos
Ford realized AI wasn’t capable of taking human jobs years ago—and hired 350 ‘gray beard’ engineers to steer its program
By Sasha RogelbergJune 29, 2026
6 hours ago
Hyperscalers could end up resembling airlines—plagued by small margins, intense competition, and high expenses, AI skeptic warns 
AIData centers
Hyperscalers could end up resembling airlines—plagued by small margins, intense competition, and high expenses, AI skeptic warns 
By Jason MaJune 29, 2026
7 hours ago
Internet technology and people's networks use AI to help with work, AI Learning or artificial intelligence in business and modern technology, AI technology in everyday life.
AICFO Daily
AI spending boom accelerates as Big Tech pours trillions into infrastructure
By Sheryl EstradaJune 29, 2026
11 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
5 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
8 hours ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
3 days ago
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
Environment
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
By Catherina GioinoJune 28, 2026
2 days ago
Cristiano Ronaldo is soccer's first-ever billionaire: He went from begging for burgers outside McDonald's to landing a $400 million contract
Success
Cristiano Ronaldo is soccer's first-ever billionaire: He went from begging for burgers outside McDonald's to landing a $400 million contract
By Preston ForeJune 28, 2026
1 day ago
Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
Success
Ex-Google engineer says Larry Page, Sergey Brin and Sundar Pichai share the same trait—it's the lesson he swears by as a $7.2 billion AI CEO
By Orianna Rosa RoyleJune 28, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.