genai / news / / Livemint
Meta Platforms has started alerting thousands of employees across the globe that they are being sacked.
Meta has begun laying off thousands globally, starting with 4 am notifications in Singapore.
KEY POINTS
- 7,000 Meta employees have been reassigned to new teams focused on AI initiatives and products.
- Meta plans to spend over $100 billion on AI capital expenditures, possibly reaching $145 billion this year.
- Evercore estimates Meta's layoffs will save only $3 billion, far less than projected AI spending.
COMPANIES
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