Meta is firing 8,000 people. Microsoft is paying 8,750 to leave. Both are spending the savings on AI.
News Source : The Next Web
News Summary
- Meta is cutting 8,000 jobs (10% of staff) and cancelling 6,000 open roles effective May 20.
- Microsoft launched its first-ever voluntary retirement programme offering buyouts to up to 8,750 US employees whose age plus years of service equals 70.
- Between the two companies, up to 23,000 positions will be eliminated or never filled.
- Both companies reported record revenues in their most recent quarters.
- Both are spending more on artificial intelligence infrastructure than they have ever spent on anything.
Summary Meta and Microsoft announced workforce reductions on the same day, April 23, affecting up to 23,000 positions combined. Meta is cutting 8,000 jobs (10% of staff) and cancelling 6,000 open ro [+10800 chars]
Never miss a story from us, subscribe to our newsletter