Meta lays off 700
Meta cut about 700 roles this week—targeting Reality Labs, recruiting and sales—as it doubles down on an AI pivot; the company also granted up to $921M in stock options to six executives hours before the cuts, highlighting a widening leadership-to-staff pay gap. Analysts say the moves underscore tech’s shift to AI-first spend even as headcount is trimmed. (thenextweb.com) (thehrdigest.com)
Bloomberg reports the rounds of cuts will affect fewer than 1,000 employees globally, with some Reality Labs staff told to work remotely ahead of the announcement and some impacted employees being offered alternate roles or relocation. (bloomberg.com) Company filings and reporting identify six executives receiving new long‑term option packages: Andrew Bosworth, Chris Cox, Javier Olivan, Susan Li, Jennifer Newstead and Naomi Gleit — the first stock‑option awards Meta has granted since its 2012 IPO. (thenextweb.com) Equilar and reporting detail that four of those executives could receive up to roughly $921 million apiece if all tranches vest, while CFO Susan Li’s award is valued at a smaller maximum (about $161 million under the disclosed structure). (thenextweb.com) CNBC’s breakdown shows the awards vest only if Meta hits steep share‑price milestones (the first tranche requires $1,116.08 per share, roughly a $2.82 trillion market cap, with the top tranche at $3,727.12 per share equating to a $9 trillion valuation) and the options expire in March 2031; Mark Zuckerberg is not part of the plan. (cnbc.com) Bloomberg also notes Reality Labs cut more than 1,000 workers in January and that Meta is projecting record capital expenditures this year — as much as $135 billion — alongside a plan Zuckerberg said would involve $600 billion in U.S. infrastructure spending by 2028. (bloomberg.com) Regulatory filings were posted in late March and outlets report the new executive awards were disclosed in SEC filings on Tuesday and surfaced hours before the company publicized the latest round of workforce reductions. (money.usnews.com)
