Meta is reportedly laying off up to 20 percent of its staff
#Meta #layoffs #AI #data centers #Metaverse #VR #budget cuts #restructuring
📌 Key Takeaways
- Meta plans layoffs of up to 20% of staff, about 15,800 positions, to offset AI and data center costs.
- This would be the largest layoff round since 2022-2023, when 22,000 workers were terminated.
- The company is scaling back on VR and Metaverse investments, cutting budgets and closing studios.
- Meta is reallocating resources to aggressively hire AI talent and build data centers.
📖 Full Retelling
According to Reuters , Meta is looking to offset spending on AI and data centers with a massive round of layoffs. Sources familiar with the matter say the company could lay off as much as 20 percent of its staff, eliminating roughly 15,800 positions. That would be the largest series of layoffs at the company since it terminated 22,000 workers over just a few months between November 2022 and early 2023 .
Word of the potential downsizing comes after Meta signaled that it was all but giving up on VR and the Metaverse , slashing budgets and closing studios . Instead, the company has been spending big to attract AI talent , build data centers , and ac …
Read the full story at The Verge.
🏷️ Themes
Corporate Layoffs, Strategic Shift
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Original Source
According to Reuters , Meta is looking to offset spending on AI and data centers with a massive round of layoffs. Sources familiar with the matter say the company could lay off as much as 20 percent of its staff, eliminating roughly 15,800 positions. That would be the largest series of layoffs at the company since it terminated 22,000 workers over just a few months between November 2022 and early 2023 .
Word of the potential downsizing comes after Meta signaled that it was all but giving up on VR and the Metaverse , slashing budgets and closing studios . Instead, the company has been spending big to attract AI talent , build data centers , and ac …
Read the full story at The Verge.
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