Meta lays off thousands of employees to offset AI investments

Meta has reportedly laid off thousands of employees, estimated to be around 8,000 or 10 percent of its workforce, as part of an effort to manage costs and compensate for substantial investments in artificial intelligence. This follows earlier reports in March about potential large-scale layoffs. The company's significant capital expenditures, projected to be between $115 billion and $135 billion by 2026 for AI initiatives, are a key factor behind these workforce reductions. In addition to cutting active roles, Meta is also reassigning over 7,000 employees to new AI projects and closing approximately 6,000 open positions. The company expressed gratitude to the affected employees for their contributions.

(Source：The Verge)