META TO REDUCE VP POSITIONS FROM 300 TO 250

Summary from the TLDR newsletter

Meta is reportedly looking to cut down on its number of vice-president positions from 300 to about 250. The company's job cuts were guided by principles focused on making Meta an even stronger technology company. These principles included removing multiple layers of management, canceling projects, making every organization leaner, building an optimal ratio of engineers to other roles, and investing in AI and other tools. Meta's capital expenditures on AI and Reality Labs will range between $35 billion and $40 billion by the end of 2024.