Meta laid off hundreds of employees across multiple departments on Wednesday, according to a news source. These layoffs will primarily impact Reality Labs division, social network teams, and employee recruitment processes. The company states this is routine restructuring to achieve business objectives.
This latest round of layoffs is smaller than the previously planned workforce reduction of over 20 percent. Earlier reports indicated that Meta's top executives had instructed senior leadership to prepare for major workforce cuts.
Meta, Facebook's parent company, has invested billions of dollars in AI technology, driving up costs significantly. Total spending could reach between $162 billion and $169 billion by 2026, with substantial expenses going toward recruiting AI specialists. The company is now cutting workforce numbers and adjusting costs as it manages the high expenses associated with AI development.
Ref: thehindu
