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00:02Meta is planning layoffs that could affect 20% or more of its workforce as the company
00:07increases spending on artificial intelligence infrastructure and pursues efficiency from
00:11AI-assisted work, according to Reuters. No date or final scale for the cuts has been set.
00:17Executives have instructed senior leaders to prepare for reductions.
00:20A spokesperson called the report speculative. Meta employed nearly 79,000 people as of December
00:2731st. A 20% reduction would be the company's largest its 2022 and 2023 restructuring,
00:34known as the year of efficiency. Over the past year, Mark Zuckerberg has pushed Meta to compete
00:40more aggressively in generative AI. Meta plans to invest $600 billion in data centers by 2028
00:46and recently acquired AI agent platform Wopuk while spending at least $2 billion to buy Chinese AI
00:53startup Manus. For all things money, visit Benzinga.com.
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