Meta lays off thousands of employees to offset AI investments

Source: The Verge

Meta layoffs tied to AI investment

Meta has reportedly notified thousands of employees that they’ve been laid off as the company attempts to compensate for its hefty AI investments. In an email from Meta management shared by Business Insider, impacted staff were told that the planned headcount reduction was part of the company’s “continued effort to run the company more efficiently and to allow us… to offset the other investments we’re making.”

Background

• Reports of an upcoming wave of layoffs began circulating in March, when it was believed Meta might cut up to 20 % of its total headcount.
• A memo shared in May clarified that the layoffs are now [specific number/percentage not provided in the source].

Company statement

Meta says it needs to “offset the other investments we’re making.”
Image credit: Cath Virginia / The Verge, Getty Images

Read the full story at The Verge.