business / news / / New York Post
Instagram parent Meta plans to lay off 10% of its workforce next month.
Meta plans to lay off 10% of its workforce, approximately 8,000 employees, starting May 20.
KEY POINTS
- Further Meta layoffs later in 2024 are expected, with their extent dependent on AI progress.
- Meta is allocating $135 billion in capital spending this year, largely focused on artificial intelligence.
- Mark Zuckerberg is directing AI integration across all Meta operations, including a photorealistic 3D digital clone.
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