00:00Meta is laying off thousands of employees as part of a major restructuring
00:05aimed at cutting costs and accelerating its push into artificial intelligence.
00:10Around 8,000 roles are expected to be cut globally
00:14with engineering and product teams among the hardest hit.
00:21The company began notifying staff on Wednesday morning
00:24with workers in Singapore among the first to be informed
00:27followed by employees across Europe and the United States.
00:31Staff have been told to work from home as the process unfolds.
00:34Further job cuts could follow later this year.
00:37The move comes as Meta continues to reorganize around AI
00:41with thousands of staff already reassigned to newly formed teams that are focused on AI initiatives.
00:47Chief Executive Mark Zuckerberg has made AI the company's central priority
00:52with Meta committing more than $100 billion in capital spending this year
00:56to compete with rivals including Google and OpenAI.
00:59The scale of that investment has raised questions among investors,
01:03with analysts estimating the savings from job cuts are relatively small
01:08compared with Meta's long-term AI spending plans,
01:11which could run into hundreds of billions of dollars.
01:14a picnic overlooking this gorgeous sunset on a minute.
01:14A picnic overlooking this gorgeous sunset on a minute.
01:15A picnic overlooking this gorgeous sunset on a minute.
01:15A picnic overlooking this gorgeous sunset on a minute.
01:15A picnic overlooking this gorgeous sunset on a minute.
01:15A picnic overlooking this gorgeous sunset on a minute.
01:15A picnic overlooking this gorgeous sunset on a minute.
01:15A picnic overlooking this gorgeous sunset on a minute.
01:15A picnic overlooking this gorgeous sunset on a minute.
01:16A picnic overlooking this gorgeous sunset on a minute.
01:16A picnic overlooking this gorgeous sunset on a minute.
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