Meta Layoffs: Tech Giant Cutting 20% Of Workforce—AI Expansion Targets $600B Investment By 2028

The US-based tech giant is reportedly gearing up for a major round of layoffs that could about 20 per cent of its workforce as the tech giant is pushing its budget on artificial intelligence and looks for a way to become more efficient.  

According to a report shared by Reuters, the company has not set a timeline for the job cuts yet, and even the exact number of affected employees has not been finalised. However, the senior executives have recently informed other leaders within the company to start planning how teams could be reduced. 

If the company proceeds with layoffs affecting 20 per cent of its staff, it will mark the largest workforce reduction since the company’s restructuring in late 2022 and early 2023, as per report. Meta has nearly 79,000 employees as per latest filings. 

The company has previously laid off 11,000 employees in November 2022, which was roughly 13 per cent of its workforce. About four months later, the company announced another round of cuts affecting around 10,000 employees. 

Over the past year, the company has pushed itself to compete more aggressively in generative AI. The company has also offered huge compensation packages, some worth hundreds of millions of dollars over four years, to attract leading AI researchers to its superintelligence team. 

The company intends to invest about $600 billion new data centres by the year 2028. Earlier, this week, the company has also acquired a social networking platform designed for AI agents known as Moltbook. The company is also spending at least $2 billion to acquire Chinese AI startup Manus, as per reports. 

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