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20,000 job cuts at Meta, Microsoft raise concern that AI-driven labor crisis is here

Meta and Microsoft are redirecting billions into AI infrastructure as they cut jobs, with 23,000 positions affected in one day, the companies said.

Summary
Meta and Microsoft are the latest software companies to announce big cuts to their global workforce. Both companies are also making big investments in artificial intelligence (AI).
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  • 67% of the sources lean Left
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CNBC broke the news in United States on Friday, April 24, 2026.
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