Meta has reportedly laid off 8,000 employees

Key points

• CEO Mark Zuckerberg issued an all-hands memo to employees confirming that Meta is laying off around 8,000 employees and transferring another 7,000, according to reports from Sky News and Business Insider.
• "As previously shared, we have decided to reduce headcount...
• to allow us to offset the other investments we're making," the memo reportedly states.
• Meta said it didn't anticipate further "company-wide" layoffs this year.
• The layoffs and transfers will affect around 20 percent of the company's workforce, making it one of the more significant cost-cutting measures in Meta's history.