“Meta to Cut 10% of Workforce, Shifts Focus to AI”

Meta is set to reduce its global workforce by about 10%, which equates to approximately 8,000 employees, in a move to cut costs and shift focus towards artificial intelligence (AI). As per an internal memo disclosed by Bloomberg, the job cuts will commence on 20 May, with Meta also leaving 6,000 current job openings vacant. Janelle Gale, the Chief People Officer, stated that the decision aims to enhance operational efficiency and balance investments. The company acknowledges the difficulty of this decision, recognizing the contributions of the employees being affected. This move comes after extensive spending on the metaverse, which did not yield the expected returns. Meta is now redirecting resources to bolster its AI capabilities, including recent advancements in its AI assistant platform.