Meta, the parent company of Facebook and Instagram, will begin laying off employees starting May 20 to restructure its operations with a focus on AI technology. In this round, approximately 10 percent of the company's workforce, or nearly 8,000 employees, is expected to be affected. Additionally, further layoffs are anticipated in the second half of this year.
Chief Executive Mark Zuckerberg is investing billions of dollars to replace internal business processes with AI technology, following the path of tech giants like Amazon and Block, which have also been reducing their workforce due to AI. Currently, Meta has also established a new organization called "Applied AI" to accelerate the development of AI technology capable of writing code independently, and has reassigned engineers to work on this initiative.
Although Meta's share prices have recovered and revenue is strong, the company is continuing these layoffs to reduce its management layers and make operations more efficient with AI assistance. This will be Meta's largest workforce reduction since the "Year of Efficiency" in 2022 and 2023, when the company laid off over 21,000 employees.
Ref: Nation Thailand
