An airfoil for a gas turbine engine according to an example of the present disclosure includes, among other things, a first portion welded to a second portion along an interface such that at least the first portion establishes an airfoil section and the second portion establishes a root section mountable to a rotatable hub. The airfoil section includes an airfoil body extending between leading and trailing edges in a chordwise direction, extending between pressure and suction sides separated in a thickness direction, and extending from the root section in a spanwise direction to a tip portion. A recessed region extends inwardly from at least one of the pressure and suction sides. The airfoil body includes at least one rib bounding a respective pocket within a perimeter of the recessed region. A cover skin is welded to the airfoil body along the at least one rib to enclose the recessed region. A method of forming a gas turbine engine component is also disclosed.