Meta will lay off thousands of employees next month at a time when it is allocating more budget than ever to artificial intelligence projects.
elchi reports that in a memo sent to employees on Thursday, the company announced plans to lay off approximately 8,000 people, representing 10 percent of its workforce.
It was also announced that thousands of vacancies in the recruitment process will not be filled.
AI budget is expanding
the main reason for the layoffs was cited as Meta’s increasing costs in other areas, including artificial intelligence.
The company is reportedly planning to spend $135 billion on artificial intelligence this year.
This figure is said to be equal to Meta’s total spending on artificial intelligence over the last three years. A Meta spokesperson confirmed the planned layoffs but declined to provide further comment.
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