Tech giants Meta and Microsoft to cut thousands of jobs

Tech giants Meta and Microsoft have announced plans to cut thousands of jobs, signalling a significant strategic pivot towards heavy investment in artificial intelligence across the industry.

Facebook and Instagram’s parent company, Meta, confirmed it intends to reduce its workforce by approximately 8,000 roles, representing 10 per cent of its total staff. This move, outlined in an internal memo, aims to enhance efficiency and free up resources for strategic new investments within the business.

Beyond the direct redundancies, Meta also intends to leave around 6,000 existing job vacancies unfilled. These significant cuts come amidst the company’s substantial capital expenditure plans, as it strives to maintain its competitive edge against rivals in the rapidly evolving field of AI technology.

Chief executive and founder Mark Zuckerberg is leading aggressive spending on talent and technology…