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Meta plans to cut about 8,000 jobs next month, roughly 10 pereccent of its workforce.
Meta plans to cut about 8,000 jobs next month, starting around May 20.
KEY POINTS
- Meta has allocated approximately $135 billion in capital spending for AI development this year.
- Additional job cuts at Meta could occur later in 2024, with details yet to be finalized.
- Last month, reports indicated Meta could eliminate up to 20 percent of its workforce in 2024.
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