00:00Meta Platforms is set to lay off 8,000 workers or about 10% of the entire company by May
00:0620
00:06to offset their AI investments. Meta released the internal memo on Thursday, April 23,
00:12and the company spokesperson confirmed the layoffs. The company's chief people officer
00:16Janelle Gale writes, the company was making cuts in their effort to run the company more
00:21efficiently for other investments. She says, this is not an easy trade-off and it will mean
00:26letting go of people who have made meaningful contributions to Meta during their time here.
00:30In January, Meta announced boosting capital spending of up to $135 billion to pursue
00:36superintelligence. This is the company's effort to offer deeply personalized artificial intelligence
00:41to its users. Along with Meta, Amazon, Snap and other tech companies cut down their
00:46workforce to offset AI-related spending.
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