Meta Platforms, Inc. (META) plans to reduce its workforce by at least 20% as it shifts focus toward costly artificial intelligence (AI) investments, according to a report by Reuters. The company’s top executives have been instructed to prepare for future layoffs, although no specific dates have been disclosed.
CEO Mark Zuckerberg is intensifying efforts to position Meta competitively in the generative AI sector, with plans to invest approximately $600 billion by 2028 to build large-scale data centers. Meta recently acquired Moltbook, a social networking platform for AI agents, and is spending over $2 billion to acquire the Chinese AI startup Manus. Currently, META stock is trading at $624.79, up 1.88% on the Nasdaq.
