Meta will cut thousands of jobs next month as it spends more than ever on artificial intelligence (AI) projects.
The company told employees in a memo on Thursday that it planned to cut 10% of its workforce - roughly 8,000 staff. It said it would also not fill thousands more open jobs it had been hiring for.
A key reason for the layoffs is Meta's increased spending in other areas of the company, including AI, for which it will this year spend $135bn (£100bn). This is roughly equal to the amount it has spent on AI in the previous three years combined, according to a person who viewed the memo.
A spokesman for Meta confirmed the planned job cuts but declined to comment further.
Mark Zuckerberg, Meta's co-founder and chief executive, made public comments in January that essentially telegraphed the company would be cutting jobs again this year.
