Meta, the parent company of Facebook and Instagram, has announced plans to cut approximately 10% of its workforce. The layoffs come after the company spent billions of dollars on artificial intelligence infrastructure and research.
According to the report, the job cuts will affect around one in ten employees across the organization. The move is seen as a cost-cutting measure after Meta's heavy investments in AI technologies, including large language models and AI-powered products.
The company has been racing to compete in the AI space, investing heavily in data centers, computing power, and AI talent. While these investments have positioned Meta as a key player in the AI industry, they have also put pressure on its bottom line.
This is not the first time Meta has conducted large-scale layoffs; the company previously reduced its workforce by about 11% in 2023. The latest cuts suggest that Meta continues to prioritize efficiency even as it pursues ambitious AI goals.
No further details on which departments or regions will be most affected have been released at this time.