economy
Meta is reportedly laying off up to 20 percent of its staff
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TL;DR
- Meta is reportedly planning to lay off up to 20% of its staff, around 15,800 employees.
- The layoffs are intended to offset substantial spending on AI and data centers.
- This follows previous large-scale layoffs between November 2022 and early 2023.
- Meta is reducing its investment in VR and the Metaverse.
- The company is focusing on AI talent, data centers, and acquisitions like Moltbook.