Plans by Meta and Microsoft to cut up to 10% of staff reportedly come amid rising costs from heavy AI investments
American tech giants Meta and Microsoft are set to cut up to 10% of staff as both companies face rising costs linked to their expensive investments in artificial intelligence (AI), the Financial Times has reported.
The Facebook parent company is expected to lay off 10% of its workforce, or roughly 8,000 employees, and close about 6,000 open roles, according to an internal memo sent to staff and leaked on Thursday. Meta specified that the layoffs will start on May 20.
The move comes as the company invests billions of dollars in AI…
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