qwant news | Mark Zuckerberg's Meta kicks off major bloodbath with 8,000 layoffs as AI roils tech giant

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Mark Zuckerberg’s Meta announced on May 20, 2026 that it will cut 8,000 jobs – one of the largest layoffs in the company’s history – as it accelerates a shift toward artificial‑intelligence‑driven operations. Employees had been warned in April of a 10 % workforce reduction and, earlier in the week, that an additional 7,000 staff would be moved into AI‑focused roles. The purge is being rolled out in three global waves, beginning with Singapore, and North‑American workers were told to work from home, leaving offices largely empty. Affected staff will receive severance of at least 16 weeks’ base pay plus two weeks for each year of service, along with health‑care and career‑support benefits. The cuts are part of a broader effort to run the company more efficiently amid soaring AI spending—Meta has earmarked up to $145 billion in capital expenditures this year—and follow a pattern of AI‑related layoffs across the tech sector, which has seen more than 52,000 job cuts in the first three months of 2026, a 40 % increase from the previous year.

Read more: https://nypost.com/2026/05/20/business/meta-kicks-off-bloodbath-with-8000-layoffs-in-shift-to-ai/

#MarkZuckerberg #Meta #AI #Techsector #Investors #JanelleGale

Many outside India’s IT sector believe it’s facing a moment of reckoning. But Indian IT czars insist all is well and that the sector will adapt to AI. But the bigger question is what is at stake for India either way. Today's HT Number Theory looked deeper into what the numbers show.

Read on HT app: https://www.hindustantimes.com/editors-pick/the-importance-of-it-sector-in-indias-labour-market-number-theory-101771816476620.html

#India #IT #ITSector #Tech #MastIndia #AI #GenAI #Outsourcing #BPO #TechSector #TCS #Infosys #DataViz #Economy

#ArtificialIntelligence bubble just released gas$$$$$... as #WallStreet tech #stocks suffer worst week since April amidst $800 Billion AI sell-off today of many #TechSector darlings... #Nvidia alone lost approximately $530 billion in market value this week. Peter Thiel's SpyI firm #Palantir was amongst the biggest losers... joined by drops at #AMD, #Oracle, #Meta , #Broadcom, #Microsoft and many more all shedding sizable percentages of #MarketValuation in a recessionary #Bear sighting

https://theetfbully.com/2025/11/ai-stocks-lead-market-slide-as-wall-street-warns-of-possible-pullback/

Stock Markets Fall for Second Day in a Row; Tech Shares Struggle While Energy Sector Surges

Major stock indexes ended lower on September 24, 2025, marking a second consecutive day of declines after a strong three-session rally. The Dow Jones Industrial Average dropped by 0.4%, and both the S&P 500 and Nasdaq fell by 0.3%. This downturn followed a record-setting performance earlier in the w... [More info]

Column: San Francisco’s absurd, redundant startups are a …

Column: San Francisco’s absurd, redundant startups are a relic of the past.

Source: The old SF tech scene is dead. What it’s morphing into is sinister.