"We're doing this as part of our continued effort to run the company more efficiently and to allow us to offset the other investments we're making. This is not an easy tradeoff and it will mean letting go of people who have made meaningful contributions to Meta during their time here."
"Meta and other big players in artificial intelligence have been spending vast amounts of money to build data centers and try to win the AI race one in which Meta lags behind competitors such as OpenAI, Anthropic and Google."
"The pivot to AI comes at a time when Meta seems to be backing away from its previous focus on its virtual reality Metaverse products."
Meta will lay off 10% of its workforce, approximately 8,000 employees, on May 20. The company will also halt hiring for 6,000 open positions. Chief people officer Janelle Gale stated that these layoffs are necessary for efficiency and to offset investments. Meta is pivoting towards artificial intelligence, moving away from its previous focus on the Metaverse. The company is also facing legal challenges, including penalties for failing to protect young users from exploitation.
Read at www.npr.org
Unable to calculate read time
Collection
[
|
...
]