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00:02Meta Platform said it will lay off 10% of its workforce or about 8,000 employees in May
00:08and cancel hiring for 6,000 open roles, according to an internal memo viewed by the Wall Street Journal.
00:15Chief People Officer Janelle Gale said the cuts aim to improve efficiency and offset AI investments.
00:21Affected employees will be notified on May 20th, and a Meta spokesperson declined to comment.
00:26Meta plans to spend up to $135 billion on AI infrastructure this year
00:31to build what it calls personal superintelligence for its 3.5 billion daily users.
00:36The company released a new AI model called MuseSpark earlier this month
00:40and said it plans more releases soon.
00:43Meta also rolled out a tool to track employee activity to train AI models, drawing internal criticism.
00:50The cuts follow prior layoffs in January and earlier workforce reductions since 2022.
00:56For all things money, visit Benzinga.com.
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