Rising AI costs force Meta to slash workforce by 20%: report

Meta is planning to carry out sweeping layoffs of about 20 percent of its workforce as AI costs have increased, according to a report from Reuters. The sweeping layoffs are a move to offset the cost of AI as the company is implementing artificial intelligence infrastructure in the tech giant's workflows.

The outlet reported that a date has not been finalized for the cuts and that the figure could change, and cited three sources familiar with the matter. Top executives have signaled to senior managers that they will need to plan on how to scale back on labor costs. Meta responded to the report, saying, "This is speculative reporting about theoretical approaches."