Citing three insiders with knowledge of the situation, Meta Platforms is poised to embark on its first substantial round of layoffs this year on May 20. This move is anticipated to result in a workforce reduction of around 10% globally, equating to roughly 8,000 employees. There is a possibility of further layoffs, though the exact timing and scale remain undetermined as management may fine-tune their strategies in response to advancements in artificial intelligence capabilities. These layoffs will mark the largest since the company underwent restructuring during the 'Year of Efficiency' from late 2022 to early 2023, a period during which approximately 21,000 employees were released. Presently, Meta boasts a solid financial standing, and its management aims to streamline operations by reducing hierarchical layers and enhancing efficiency through the integration of artificial intelligence to support employees. As of December 31 of the previous year, Meta employed approximately 79,000 individuals.