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META (FACEBOOK) LAYOFFS, SHIFTING FOCUS TO AI
🔹 Meta is laying off hundreds to thousands of employees across multiple departments, including Facebook, Reality Labs, recruiting, sales, and operations
🔹 The layoffs are more of a “fine-tuning” rather than widespread cuts, focusing on areas that do not generate short-term revenue
🔹 The main focus of the cuts is Reality Labs (metaverse), a division that has lost over $50 billion since 2020, becoming a significant financial burden
🔹 This is part of a restructuring strategy to shift resources from the metaverse to AI, in order to compete with OpenAI, Google, and other rivals
🔹 Meta is heavily investing in AI (LLM, infrastructure, and talent), even offering substantial packages to retain key personnel