Meta will lay off 8,000 workers while Microsoft is offering buyouts to 8,750 people, a first for the Windows maker.
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Meta is laying off about 8,000 workers, or about 10 percent of its workforce, the company has said as it continues to ramp up spending on artificial intelligence infrastructure and highly paid AI-expert hires.
On Thursday, the company said it was making the cuts for the sake of efficiency and to allow new investments in parts of its business, as first reported by Bloomberg, which also said the company will leave about 6,000 jobs unfilled.
