Meta says it will cut 8k jobs as AI spending grows
18 hours ago
- #Job Cuts
- #AI Spending
- #Tech Industry
- Meta plans to cut 10% of its workforce, roughly 8,000 jobs, next month.
- The company is increasing AI spending to $135bn this year, equal to its total from the previous three years.
- CEO Mark Zuckerberg highlighted AI's role in boosting productivity, enabling single workers to complete tasks that once required teams.
- Meta is tracking employee computer interactions to train AI models, a move some call 'dystopian' amid layoffs.
- Other tech firms like Amazon, Oracle, Block, and Snap have also cut jobs this year, often citing AI investment as a factor.