Meta lays off hundreds of employees in global restructuring
Meta, the company behind Facebook and Instagram, is letting go of several hundred employees worldwide as part of a big restructuring.
Teams in sales, recruiting, and Reality Labs (the group behind Meta's hardware projects) are being hit.
Some staff might get offered new roles or a chance to relocate, but the cuts will affect both US and international workers.
Layoffs part of restructuring, not AI focus
These layoffs are part of a company restructuring; Meta has separately been increasing its focus and investment in artificial intelligence.
Even though the company had about 79,000 employees worldwide at the start of the year, fewer than 1,000 jobs are being cut this round.
Earlier this year, Reality Labs already saw over 1,000 job losses as Meta shifted from metaverse projects to AI wearables.
CEO Mark Zuckerberg is betting big on tech: Meta projected record capital expenditures this year — as much as $135 billion and has pledged $600 billion for US infrastructure by 2028.