Meta Platforms, Microsoft Announce Over 16,000 Job Cuts As AI Spending Surges
Meta Platforms and Microsoft are set to cut over 16,000 jobs as they ramp up spending on artificial intelligence. Meta will lay off around 8,000 employees, while Microsoft is offering a voluntary redundancy program affecting about 8,750 workers.
Meta Platforms and Microsoft are cutting over 16,000 jobs as they increase spending on artificial intelligence. Meta will lay off around 8,000 employees, or 10% of its workforce, and leave 6,000 vacant positions unfilled. The company's spending is expected to top $160 billion by 2026, up from $120 billion last year. Microsoft is offering a voluntary redundancy program affecting around 8,750 workers, or 7% of its US workforce. The job cuts are part of a wave of layoffs across major US technology firms as investment in AI accelerates. Meta is competing to hire AI experts while facing high costs for data centers needed to power the technology.
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