Exclusive-Meta targets May 20 for first wave of layoffs; additional cuts later in 2026

Meta plans to lay off employees in two phases, with the first wave expected on May 20 and additional cuts later in 2026. This move is part of the company's efforts to reduce costs and adapt to changing market conditions. The exact number of affected employees has not been disclosed. The layoffs are likely to impact Meta's workforce and operations in the coming months.