Meta to cut 8k jobs 10% of workforce in major bloodbath next month

2 days ago

Meta plans to lay off 8,000 employees (10% of workforce) in initial round on May 20, with more cuts expected later in the year.
Layoffs are part of Meta's shift toward AI development, with $135 billion in capital spending aimed at keeping pace with rivals like Anthropic and OpenAI.
Meta's job cuts are part of a broader trend in tech, with companies like Snap, Block, and Amazon also reducing staff while integrating AI tools.
Meta previously cut over 20,000 jobs in 2022-2023 during its 'year of efficiency', and reports suggest total cuts this year could exceed 20%.
Meta's stock rose nearly 2% on the news, reflecting investor response to cost-cutting and AI investment.
Zuckerberg is integrating AI across Meta's business, even developing a photorealistic 3D clone of himself for employee interactions.

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