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TechRadar

Craig Hale

Zuckerberg blames Meta layoffs on AI costs, says “compute and infrastructure” and “people oriented things” are biggest financial drain right now

Meta Mark Zuckerberg

Meta.

Around 8,000 of Meta's nearly 80,000 workers are set to lose their jobs this month
Company capex is expected to rise $10bn to $145bn
Revenue is up 33%, but shares are down 9%

Meta is reportedly planning to cut around 8,000 jobs, or 10% of its current headcount, as soon as this month amid ongoing cost-cutting measures, with further layoffs not ruled out either.

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