Tech giant Meta is reportedly planning cost-cutting measures that could affect up to 20% of its workforce, according to three anonymous sources cited by Reuters. The cuts have recently been communicated by the company's top executives to their subordinates, according to Reuters. The plans are reportedly aimed at compensating for the huge sums Meta has invested in AI, including offering salaries of hundreds of millions of dollars to attract leading AI researchers and announcing investments of 600 billion dollars in new data centers.
Meta has declined to confirm the plans, with a spokesperson telling Reuters that this is speculative reporting about theoretical approaches. The company had nearly 79,000 employees at the end of last year.
this is speculative reporting about theoretical approaches