Bull GURU Bear

#MetaPlansLayoffs NEW YORK/SAN FRANCISCO, March 13 (Reuters) - Meta (META) is planning sweeping layoffs that could affect 20% or more of the company, three sources familiar with the matter told Reuters, as ‌Meta seeks to offset costly artificial intelligence infrastructure bets and prepare for greater efficiency brought about by AI-assisted workers. NEW YORK/SAN FRANCISCO, March 13 (Reuters) - Meta (META) is planning sweeping layoffs that could affect 20% or more of the company, three sources familiar with the matter told Reuters, as ‌Meta seeks to offset costly artificial intelligence infrastructure bets and prepare for greater efficiency brought about by AI-assisted workers. Top executives have recently signaled the plans to other senior leaders at Meta and told them to begin planning how to pare back, two of the people said. The sources spoke anonymously because they were not authorized to disclose the cuts. "This is speculative reporting about theoretical approaches," Meta spokesperson Andy Stone said in response to questions about the plan. If Meta settles on the 20% figure, the layoffs will be the company's most significant since a restructuring in late 2022 ‌and early 2023 that it dubbed the "year of ⁠efficiency." It employed nearly 79,000 people as of December 31, according to its latest filing.The company has said it plans to invest $600 billion to build ‌data centers by 2028. Earlier this week, it acquired Moltbook, a social networking platform built for AI agents. Meta is also spending at least $2 billion to buy Chinese AI startup Manus, Reuters previously reported.