Meta Platforms is said to be planning a wave of sweeping job cuts involving thousands of staff worldwide starting next month with more to follow later in the year.<\/p>\n
The owner of Facebook and Instagram will lay off about 10 per cent of its global workforce, or close to 8,000 employees, in May\u2019s initial round, with further job losses in the second half of the year, according to Reuters, although details of those cuts, including date and size, have not been settled. <\/p>\n
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Meta declined to comment on the timing or scope of planned cuts. Mark Zuckerberg, chief executive and co-founder of the business, is pumping hundreds of billions of dollars into artificial intelligence as he seeks to reshape his company\u2019s inner workings around the technology, reflecting a broader pattern among big US companies this year, particularly in the tech sector.<\/p>\n
Amazon<\/a> has cut 30,000 corporate employees in recent months, representing nearly 10 per cent of its white-collar workers, while in February Block<\/a>, the fintech company, dismissed nearly half of its staff, or about 4,000 jobs.<\/p>\n