Meta and Microsoft have joined the tech layoff tsunami – but is AI really to blame?
Meta and Microsoft have announced significant layoffs, with Meta cutting about 10% of its staff, or almost 8,000 workers, and Microsoft offering early retirement packages to about 7% of its US workforce. Both companies are also making large investments in artificial intelligence (AI).
Meta and Microsoft have joined other tech companies in announcing significant layoffs, with Meta cutting around 8,000 jobs and Microsoft offering early retirement packages to a portion of its US workforce. Both companies are also investing heavily in AI, with Meta planning to spend over $115bn this year. Other tech companies, including Atlassian, Block, and Oracle, have made similar announcements. The layoffs are attributed to various factors, including AI, but the exact relationship between AI and job losses is unclear. Some view AI as a potential replacement for white-collar work, while others see it as a useful tool or mere hype. Meta's chief people officer, Janelle Gale, stated that the job cuts will help offset the company's other investments.
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