OUCH: Meta to cut 8,000 jobs, Microsoft offers buyouts to to staff as AI spending costs hit Big Tech workers.
Meta (META) on Thursday became the latest Big Tech company to announce layoffs as the ballooning costs of the AI build-out and efficiencies continue to hit workers in the industry.
The company says it will cut 10% of its workforce, or about 8,000 employees.
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Microsoft (MSFT) will also offer voluntary buyouts to some employees as the company joins many of its Big Tech peers in seeking ways to control costs amid their AI spending sprees.
According to a source familiar with the matter, roughly 7% of Microsoft’s US employees, senior directors or below, can take part in the buyouts if their years at the company plus their age add up to at least 70.
How big are those AI build-outs? This big: “Amazon, Google, Meta, and Microsoft alone will spend some $650 billion on capital expenditures in 2026.”