Meta company is set to reduce its workforce by 8,000 employees on May 20th next year. According to CEO Mark Zuckerberg, this workforce reduction is for restructuring the company's organization with small AI technology-based teams rather than just cutting costs.
It has been reported that work previously done by around 50 engineers can now be completed by one or two employees within a week with AI assistance, which is why the company is reducing its workforce.
During this year, Meta company plans to invest between USD 125 billion to 145 billion in AI-based infrastructure, data centers, and chip production.
According to the company's Chief Financial Officer (CFO) Susan Li, due to the rapid advancement of AI technology, the company cannot precisely determine how many employees it should have.
The company needs to adjust the number of employees because it is allocating more money to AI technology than to employee salaries.
Mark Zuckerberg states that AI is not meant to replace humans, but rather to enhance human capabilities.
However, within the company, AI systems are being used to monitor how employees work and implement performance-based rankings.
Currently, Meta prefers employees who are capable of doing work alone that was previously done by teams, and those who don't meet this standard are being laid off.
Ref: Times of India
