Zuckerberg blames layoffs on a.i. spending
NEW YORK, May 2 -- Meta chief executive Mark Zuckerberg attributed the Facebook parent's planned layoffs to increased capital spending for AI, and declined to rule out further job cuts, in comments to employees at a company town hall on Thursday.
"We basically have two major cost centres in the company: compute infrastructure and people-oriented things," Zuckerberg said in the session, heard by Reuters.
Meta intends to lay off about 10% of its workforce on May 20 and is planning additional cuts for the second half of the year....
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