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00:02Meta CEO Mark Zuckerberg told employees in an internal memo that the company has made mistakes
00:08during its AI-driven workforce transformation and will likely make more, according to Reuters.
00:14Zuckerberg said Meta does not expect company-wide layoffs this year and will work to find new roles
00:20for employees reassigned to train AI models. The company carried out a major restructuring in May,
00:26cutting 10% of its global workforce, and moving 7,000 employees to AI-related initiatives.
00:32Zuckerberg also said Meta plans to scale back the widening of manager oversight responsibilities
00:37and will increase budgets to encourage collaboration and development on its latest AI models.
00:42The company will host a large-scale hackathon in July and raised its annual capital spending
00:47forecast to between $125 billion and $145 billion in April.
00:53For all things money, visit Benzinga.com.
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