Meta says it will cut 8,000 jobs as AI spending soars

Meta will cut thousands of jobs next month as it spends more than ever on artificial intelligence (AI) projects. The company told employees in a memo on Thursday that it planned to cut 10% of its workforce - roughly 8,000 staff. It said it would also not fill thousands more open jobs it had been hiring for. A key reason for the layoffs is Meta's in...

Meta will cut thousands of jobs next month as it spends more than ever on artificial intelligence (AI) projects.

The company told employees in a memo on Thursday that it planned to cut 10% of its workforce - roughly 8,000 staff. It said it would also not fill thousands more open jobs it had been hiring for.

A key reason for the layoffs is Meta's increased spending in other areas of the company, including AI, for which it will this year spend $135bn (£100bn). This is roughly equal to the amount it has spent on AI in the previous three years combined, according to a person who viewed the memo.

A spokesman for Meta confirmed the planned job cuts but declined to comment further.