510
2 days ago
Meta is reportedly laying off up to 20 percent of its staff
Summary
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The company is spending big on AI but cutting back almost everywhere else.
The company is spending big on AI but cutting back almost everywhere else.
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See All by Terrence O'Brien
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According to Reuters, Meta is looking to offset spending on AI and data centers with a massive round of layoffs. Sources familiar with the matter say the company could lay off as much as 20 percent of its staff, eliminating roughly 15,800 positions. That would be the largest series of layoffs at the company since it terminated 22,000 workers over just a few months between November 2022 and early 2023.
Word of the potential downsizing comes after Meta signaled that it was all but giving up on VR and the Metaverse, slashing budgets and closing studios. Instead, the company has been spending big to attract AI talent, build data centers, and acquire companies like Moltbook.
Amid all this, the company has also repeatedly found itself in hot water over its smart glasses, chatbots, and its impact on teens.
Meta did not immediately respond to a request for comment.
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Posts from this topic will be added to your daily email digest and your homepage feed.
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The company is spending big on AI but cutting back almost everywhere else.
The company is spending big on AI but cutting back almost everywhere else.
Posts from this author will be added to your daily email digest and your homepage feed.
See All by Terrence O'Brien
Posts from this author will be added to your daily email digest and your homepage feed.
See All by Terrence O'Brien
According to Reuters, Meta is looking to offset spending on AI and data centers with a massive round of layoffs. Sources familiar with the matter say the company could lay off as much as 20 percent of its staff, eliminating roughly 15,800 positions. That would be the largest series of layoffs at the company since it terminated 22,000 workers over just a few months between November 2022 and early 2023.
Word of the potential downsizing comes after Meta signaled that it was all but giving up on VR and the Metaverse, slashing budgets and closing studios. Instead, the company has been spending big to attract AI talent, build data centers, and acquire companies like Moltbook.
Amid all this, the company has also repeatedly found itself in hot water over its smart glasses, chatbots, and its impact on teens.
Meta did not immediately respond to a request for comment.
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See All by Terrence O'Brien
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AI Description
Meta is reportedly reducing its workforce by up to 20 percent as part of a cost-cutting measure. Despite significant investments in AI, the company is scaling back in other areas.