The Cuts Keep Coming
Source: CNBC
Summary
Meta, the parent company of Facebook and Instagram, announced another round of layoffs, cutting 10,000 jobs. The company cites advancements in AI for the cuts, saying it will help automate tasks and make the company more efficient. This is the second major round of layoffs for the company in the past six months. The cuts will affect various departments, including engineering, product, and business teams. The company’s CEO, Mark Zuckerberg, said the goal is to make the company more agile and better positioned for the future.
Our Reading
The launch follows a familiar script.
Meta cuts 10,000 jobs, citing AI advancements as the reason. Because that’s exactly what we need, more AI. The company claims it will make them more efficient, but we’ve heard that one before. This is the second round of major layoffs in six months, because agility is just a nice way of saying “we’re not sure what we’re doing”. The cuts will affect various departments, because who needs humans when you have AI? And Mark Zuckerberg says it’s all about the future, because the present is just too expensive.
Original observation: “Meta is just automating its way to irrelevance.”
Author: Evan Null
