Meta told thousands of employees on Wednesday that their jobs are being cut to offset the company’s other investments, according to an email obtained by Business Insider.
Emails sent to affected employees said the reduction in head count was part of a “continued effort to run the company more efficiently” and thanked them for their contributions to Meta.
It also gives guidance on severance, visas, and access to company systems.
Notifications began going out to roughly 10% of Meta’s 78,000 employees on Wednesday, notifying them that they are being laid off.
Meta also plans to move more than 7,000 people to work on new initiatives around AI.
Meta declined to comment.
Read the email that Meta sent to laid-off staff:
- Severance payment of 16 weeks plus two weeks for every year of completed services, minus your notice period. Please see the cover sheet of the attached Separation Agreement for more details on this calculation.
- Payment of COBRA (health insurance) premiums for you and your family (if they are dependents on your current plan) for 18 months.
Read the original article on Business Insider
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