Meta and Microsoft announce mass layoffs, as AI jobs massacre continues
Meta and Microsoft announced significant layoffs, with Meta cutting 8,000 jobs and Microsoft offering buyouts to approximately 8,750 US staff, citing 'efficiency' and heavy AI spending. The tech sector has seen over 92,000 jobs destroyed industrywide in 2023.
Meta and Microsoft have announced major layoffs. Meta is cutting 8,000 jobs, 10% of its workforce, starting May 20, and will not fill 6,000 vacant roles. The company is spending $135 billion on AI this year. Microsoft is offering buyouts to about 7% of its US staff, approximately 8,750 jobs. Both companies are investing heavily in AI infrastructure. The layoffs are part of a broader restructuring of tech employment under AI, with industry journalists warning of a potential 'AI-driven labor crisis.' The tech sector has seen over 92,000 jobs destroyed in 2023. CEOs are justifying layoffs by claiming AI enables companies to do 'more with fewer staff members.'
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