business / news / / The Sunday Times
Meta Platforms and Microsoft both announced plans to cut thousands of staff.
Meta is laying off 10 percent of its workforce, approximately 8,000 employees, on May 20.
KEY POINTS
- Meta is planning record capital expenditures of up to $135 billion in 2024 to pursue AI superintelligence.
- Microsoft is offering voluntary redundancy to about 8,750 US employees, the first such move for the company.
- Microsoft's voluntary redundancy targets staff whose age plus years of service totals 70 or more.
- Microsoft will stop requiring managers to link stock awards directly to cash bonuses in annual employee rewards.
COMPANIES
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