Meta to cut roughly 8,000 employees as it plans massive AI budget

Meta is cutting roughly 10% of its staff, totaling about 8,000 employees, to shore up its finances for more spending on artificial intelligence.

In a memo sent to staff, the company said the move was intended to “run the company more efficiently and to allow us to offset the other investments we’re making.” People familiar with the matter told several outlets that Meta was also no longer planning to hire for 6,000 open positions.