Meta planning sweeping layoffs as AI costs mount: Reuters

Meta shares jump 3% as Mark Zuckerberg reportedly mulls cutting 20% of workforce to offset AI spending

Meta’s stock jumped more than 3% in early Monday trading on news that Mark Zuckerberg’s company is planning to cut more than 20% of the company's workforce as it ramps up spending on artificial intelligence.

Panic of AI job massacre as Meta set to axe one in five staff

Reports suggest the company could be looking to make vast savings to help it invest further in AI development.

Meta may lay off 20% of staff while making two big statements about AI

Meta Is Reportedly Planning Mass Layoffs That Could Affect 20% of the Company — With 16,000 Jobs At Risk

The move comes as Meta tries to offset expensive AI bets and prime itself for more workplace efficiency brought on by AI.

Tech companies are blaming massive layoffs on AI. What’s really going on?

In the past few months, a wave of tech corporations have announced significant staff cuts and attributed them to efficiency gains driven by artificial intelligence (AI). Image: Berke Citak / UnsplashCompanies such as Atlassian, Block and Amazon have announced they would lay off thousands of employees due to increased reliance on AI. The narrative these companies offer is consistent: AI is making human labour replaceable, and responsible manageme…

Meta reportedly plans to cut at least 20% of its work force as it bets on AI

Planned layoffs could amount to $6-billion in cost savings for the tech giant, whose work force totalled 79,000 at the end of December