00:00Meta CEO Mark Zuckerberg is defending the company's decision to cut roughly 8,000 jobs,
00:06telling employees that success isn't a given in the increasingly competitive artificial intelligence race.
00:12In a memo, Zuckerberg described AI as the most consequential technology of our lifetimes,
00:18as Meta restructures around what it sees as the future of the industry.
00:23The layoffs impact about 10 percent of the company's workforce,
00:26while thousands of remaining employees are being shifted into AI-focused roles
00:31tied to infrastructure, foundation models, and monetization efforts.
00:35The move comes as Meta ramps up spending on artificial intelligence,
00:40even amid declining employee morale and ongoing uncertainty inside the company.
00:45Meta now joins a growing list of tech giants, including Cisco and Microsoft,
00:50making deep workforce cuts as the AI arms race accelerates.
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