META WILL CUT 10% OF WORKFORCE AS COMPANY PUSHES DEEPER INTO AI

Summary from the TLDR newsletter

Meta plans to lay off around 8,000 employees beginning on May 20. The company says the job reductions are necessary to improve efficiency as it focuses its efforts on generative AI. Meta's annual report in January indicated that it had a global workforce of 78,865 employees as of December 31. Job cuts are picking up across the tech sector due to the AI boom.