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Oracle, Meta, Snap, and Block are cutting thousands of jobs as they redirect resources toward artificial intelligence and large-scale automation.
Oracle laid off approximately 30,000 employees worldwide, including about 12,000 in India, on March 31.
KEY POINTS
- Block reduced its workforce by nearly half, from over 10,000 to just under 6,000 employees in February.
- Meta plans to cut about 10% of its workforce, prioritizing AI investments over other projects.
- Layoffs across Oracle, Meta, Snap, and Block total an estimated 30,000 to 40,000 positions this year.
- These job cuts are driven by strategic shifts to AI investment, not by financial struggles or economic downturns.
COMPANIES
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