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Meta ‘planning sweeping lay-offs’ as AI costs mount

News Snapshot:

Meta is planning sweeping lay-offs that ?could affect 20 per cent or more of the company, three sources told Reuters. The reported move comes as the Facebook and Instagram parent seeks to offset costly artificial intelligence (AI) infrastructure bets and prepare for ?greater efficiency brought about by AI-assisted workers.No date has been set for the cuts and the magnitude has not been finalised, the people said.Top executives have recently signalled the plans to other senior leaders at Meta and told them to begin planning how to pare back, two of the sources said. “This is speculative reporting about theoretical approaches,”…

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