Meta stock rises despite layoffs as AI expansion and cloud computing plans raise concerns about long-term margins
India, July 2 -- Meta is making a huge shift towards artificial intelligence (AI), even as it cuts thousands of jobs. The company is investing heavily in AI infrastructure while restructuring its workforce. Meta CEO Mark Zuckerberg says AI does not automatically mean people will lose their jobs. Speaking on Complex's Idea Generation, Zuckerberg said AI should help employees become more productive instead of replacing them, adding that higher productivity could create more jobs in the future.
His comments come just days after Meta carried out one of its biggest workforce reductions. The company recently eliminated around 8,000 jobs, or about 10% of its workforce, as part of a major restructuring, according to Firstpost. The layoffs affect...
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