The media learned about Meta's plans to cut staff due to rising AI costs

The American technology company Meta (the company's activities are recognized as extremist and banned in the Russian Federation) plans to cut more than 20% of its employees amid efforts to compensate for spending on the development of artificial intelligence (AI) technologies. This was reported on March 14 by the Reuters news agency, citing sources.

According to sources, the exact date of the beginning of the cuts has not yet been announced. The scale of the cuts is also still preliminary.

The article notes that if Meta cuts 20% of its staff, this reduction will be the largest since the restructuring in late 2022 and early 2023. So, in November 2022, the company laid off 11 thousand employees, or about 13% of its workforce.

"The Meta plans reflect a broader trend among large American companies, especially in the technology sector," the article says.

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In January, the Financial Times newspaper, citing David Mericle, chief economist for the United States at Goldman Sachs, reported that major American companies, including Amazon, UPS, Dow, Nike and Home Depot, intend to lay off at least 52,000 employees amid slowing labor market growth and the active introduction of artificial intelligence. Companies attribute the massive reductions to economic uncertainty and the desire to reduce costs through automation and AI.

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