Mark Zuckerberg canceled Meta’s second wave of layoffs, which could have eliminated up to 60% of some teams. About 8,000 employees lost their jobs in May, representing 10% of the workforce, while 6,000 open positions were closed and 7,000 workers reassigned to AI-focused roles. Despite record Q1 2026 revenue of $56.3 billion and net income of $26.8 billion, Meta is reshaping its organization around AI capabilities with flatter teams and less managerial oversight. In a June 12, 2026 memo, Zuckerberg acknowledged execution mistakes and confirmed no further job cuts would occur for the remainder of the year.
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