Meta CEO Mark Zuckerberg told employees in an internal memo on June 12 that the company had made mistakes when it reorganized staff around AI through layoffs and role changes.

Meta cut 10% of its workforce in May and reassigned 7,000 employees to AI-related work.

Zuckerberg said Meta does not expect more company-wide layoffs this year and will try to find new roles for employees reassigned to train AI models.

The changes continue a cost-cutting drive that laid off 11,000 employees in November 2022 and later aimed to cut 10,000 more roles in 2023 under Zuckerberg’s “Year of Efficiency,” which also focused on removing layers of management.

Meta also said it would reduce oversight by managers across the company, spend more on events, and hold a July hackathon as it raises annual capital spending from US$115 billion-US$135 billion to US$125 billion-US$145 billion.

🔗 Source: Reuters

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