Meta Cuts 10% of Workforce (~8,000 Jobs), Effective May 20; Sets $115–135B AI Capex Guidance for 2026

Meta Platforms announced it would cut approximately 10% of its global workforce — roughly 8,000 employees — effective May 20, 2026, as part of an aggressive pivot toward artificial intelligence. The company simultaneously froze approximately 6,000 open positions. Meta set its full-year 2026 capital expenditure guidance at $115–135 billion, nearly double its 2025 capex of ~$72 billion, with the majority directed at AI data center infrastructure and compute capacity. CEO Mark Zuckerberg said the cuts were designed to create a 'leaner, more focused company' ahead of AI products expected to roll out through 2027. Further rounds of cuts were anticipated later in 2026. The announcement came alongside Meta's Q1 2026 earnings report; shares rose ~4% in after-hours trading. The layoffs added to a tech sector wave of AI-driven restructuring that included similar cuts at Microsoft, Google, and Intel in Q1 2026.