US megacap tech firms are slashing jobs at a record pace as AI increasingly overhauls legacy systems, cuts costs, and boosts operational efficiency. AI leader Meta Platforms is among US companies that reduced its global workforce by 8,000 jobs in May or about 10% of the company.
At the same time, the organisational restructuring is expanding Meta's Applied AI unit, where 6,500 employees have been drafted since April. The intriguing part is there is no application process for joining this unit, and workers are reportedly selected with options to join or leave the company.