Meta Platforms, Inc. is set to lay off 8,000 employees on May 20, representing about 10% of its global workforce. Janelle Gale, Meta's chief people officer, announced that affected employees in the United States will receive a severance package that includes 16 weeks of base pay plus an additional two weeks for every year of service. Furthermore, the company will cover healthcare costs for these employees and their families for 18 months. For international employees, the severance packages will be similar but will vary by country. This move comes as part of Meta's strategy to streamline operations and focus on artificial intelligence (AI) initiatives, which CEO Mark Zuckerberg believes will enable smaller teams to accomplish tasks more efficiently. The layoffs are not solely about cost-cutting; they also reflect a shift in the company's direction towards AI-driven projects. As Meta undergoes this transformation, it aims to reward employees who contribute significantly while launching a greater number of projects simultaneously. The company will communicate further details regarding the layoffs and severance processes in a follow-up announcement ahead of May 20.