Technology company Meta is reportedly planning to undertake massive layoffs, cutting around 10 percent of its workforce.
According to a Bloomberg report cited in an Engadget broadcast on Friday, the company will lay off around 8,000 employees and eliminate around 6,000 job openings.
Meta's Chief Human Resources Officer Janelle Gale in an internal company memo called the workforce reductions "part of our ongoing effort to run the company more efficiently and allow us to offset other investments we are making."
The "investment" in question is likely related to the development of artificial intelligence ( AI ).
Meta is developing its own AI models. Its smart glasses are also powered by advanced AI capabilities.
