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00:02Meta CEO Mark Zuckerberg told employees in a memo on Wednesday that the company's decision to lay
00:08off 8,000 employees is necessary because success isn't a given in the AI race, according to CNBC.
00:16Zuckerberg called AI the defining technology of this era and said the companies that lead in it
00:21will shape the next generation. The cuts represent about 10% of Meta's workforce,
00:26while about 7,000 employees will move into new AI-focused roles.
00:32Teams working on AI infrastructure, foundation models, and AI monetization are expected to be
00:39protected. Meta revealed the planned layoffs to employees in April, saying the cuts would help
00:44offset investments into AI. Meta employees are facing intense anxiety over ongoing layoffs,
00:50with more rounds expected in August and the fall. The tech giant's employee rating on the Blind Network
00:56dropped 25% from its second quarter 2024 peak, including a 39% decline in its culture rating.
01:03For all things money, visit Benzinga.com.
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