Meta (META) to Cut 8,000 Jobs Amid $135 Billion AI Investment

AI Summary

Meta (META) announced plans to cut 10% of its workforce, translating to approximately 8,000 jobs, while not filling numerous other vacancies. This decision follows the company's increased spending on artificial intelligence, which is projected to reach $135 billion this year, equal to its total AI investment in the last three years combined. In recent months, Meta has shifted its focus towards AI development, prompting significant staff reductions. These layoffs, which are the company's largest since 2023, come after multiple rounds of job cuts and an earlier indication from CEO Mark Zuckerberg about job reductions this year.