BEFORE MASS LAYOFFS, META REASSIGNS 7,000 WORKERS TO FOCUS ON AI

Summary from the TLDR newsletter

Meta is moving 7,000 employees to four new organizations focused on building new AI tools and apps. The organizations will use AI native design structures and have fewer managers per employee than other parts of the company. CEO Mark Zuckerberg has bet the future of Meta on AI. The company plans to spend up to $135 billion in capital expenditures this year, much of it going to building computing facilities that power AI and hiring researchers.