Meta begins cutting thousands of jobs in sweeping layoffs. Here's how much it's paying in severance.

The day many workers at Meta have been anticipating has finally arrived. Notifications have begun to circulate, informing approximately 10% of the company's 78,000 employees that they will be laid off. These communications are being dispatched in three separate waves starting early in the morning on May 20, as detailed in a memo from Meta's HR chief, Janelle Gale, addressed to an employee resource group. The layoffs are projected to eliminate around 8,000 positions. Employees in the United States will receive a severance package that includes 16 weeks of base salary, equating to four months, along with an additional two weeks for each year of continuous service. Furthermore, they will benefit from 18 months of healthcare coverage for themselves and their dependents, a significant increase from previous offerings. For those outside the United States, severance packages will align with local regulations and conditions. Comparatively, other companies have offered varying severance terms; for instance, fintech firm Block recently provided 20 weeks of salary plus additional weeks per year of tenure, along with six months of healthcare coverage. Amazon has also extended a robust severance package including three months of pay and healthcare benefits. In her memo, Gale noted that managerial roles would be reduced within the organization to facilitate a flatter operational structure. This shift aims to enable teams to work more efficiently and independently. "We’re now at the stage where many teams can function with smaller, more agile groups that can respond quickly and take greater ownership of their work," she stated. As the company faces this significant transition, Meta has yet to respond to requests for further comments. During a recent internal meeting, Gale expressed concerns about employee morale, which has suffered due to the uncertainty surrounding the layoffs. She emphasized that the company is striving to handle this challenging situation as positively as possible. Since the announcement of these layoffs on April 23, employees have been left in a state of uncertainty regarding their futures within the company. Meta has indicated that these job cuts are part of a broader strategy to enhance operational efficiency and manage future investments. Additionally, the company is reallocating over 7,000 employees to focus on new initiatives in artificial intelligence, reflecting its commitment to remain competitive in this rapidly evolving sector. Gale also informed staff that leadership will outline further organizational changes in conjunction with the layoffs, and there is no assurance that additional job cuts won’t occur following this initial reduction.