"Meta laid off about 700 employees, hours before it was found liable for the mental health struggles of a young woman who became addicted to its platforms as a child."
"The layoffs follow new stock options for executives that could increase compensation for some of them upwards of $921 million each over the next five years."
"These pay packages will not be realized unless Meta achieves massive future success, benefiting all of our shareholders."
"The layoffs are the latest among tech giants, including Amazon, Apple, Microsoft, and Google, as they refocus their priorities on AI."
Meta laid off approximately 700 employees across various divisions, including Facebook and Reality Labs, amid legal challenges regarding mental health issues related to its platforms. A jury found Meta liable for a young woman's addiction to its services. Concurrently, the company introduced a new stock program for six executives, potentially increasing their compensation significantly. This move aims to retain talent in the AI sector as Meta shifts focus towards artificial intelligence, following similar layoffs in the tech industry.
Read at TechRepublic
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