Meta to lay off 10% of workforce in AI push [Yahoo! Finance]
Microsoft Corporation (MSFT)
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Source: Yahoo! Finance
Meta said Thursday that it will lay off about 10% of its workforce in a move to artificial intelligence. File Photo by Terry Schmitt/UPI April 23 (UPI) -- Meta, the parent company of Facebook and Instagram, plans to lay off 10% of its workforce worldwide -- about 8,000 people -- and focus on artificial intelligence, an employee memo said Thursday. The first round of layoffs is expected to start May 20, with more coming later in the year. The memo also said Meta will not hire people for 6,000 open roles, CNBC reported. The company had earlier chopped about 1,500 workers this year in its Reality Labs division, USA Today reported. It said at the time that it was moving from its "metaverse" business model to a focus on Meta Superintelligence Labs. There were more layoffs in March, when the company got rid of hundreds of workers in Facebook and other units and shifted other roles, including moderation, to AI. This is part of a big and growing trend in tech companies worldwide. Micr
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