Layoffs: There is currently a huge competition among big tech companies around the world regarding Artificial Intelligence i.e. AI. Companies are rapidly developing new AI technologies and are spending billions of dollars for it. But the impact of this technological change is now clearly visible on the jobs of the employees as well. Social media and tech giant Meta has started mass layoffs, creating an atmosphere of fear and confusion among thousands of employees.
According to media reports, Meta started sending emails of sudden job termination to its employees on May 20. It is being told that the company’s mail reached the inbox of the employees at around 4 am local time in Singapore. It was clearly written in this mail that the company no longer needed his services. Many employees shared this experience on social media and said that as soon as they woke up in the morning, they got the news of losing their jobs. According to reports, such notifications are being sent to employees in America, Britain and other countries as per their time zone. After this news, the stir in the tech industry has intensified.
Retrenchment fell on 8 thousand employees
Meta is preparing to reduce about 10 percent of its total workforce. At present about 78 thousand employees work in the company and it is estimated that about 8 thousand people may lose their jobs. However, the company had already indicated that it would make major changes to reduce its expenses and focus on new technology. After the news of retrenchment came to light, concern about the future has increased among the employees. Many people fear that in the future, more jobs may be affected due to AI.
Company is playing big bet on AI
Meta CEO Mark Zuckerberg has made AI the company’s biggest priority at this time. The company is investing heavily in the AI sector to remain competitive with companies like Google and OpenAI. According to reports, Meta is preparing to spend $125 billion to $145 billion on AI projects this year. Experts believe that due to increasing investment in AI, companies are making major changes in their old business models and employee structures. Now companies want to create smaller but more technology based teams.
Some employees will get new responsibilities
Meta is not only laying off employees, but is also going to include about 7 thousand employees in new AI teams. The work of these teams will be to create such AI agents, which can handle many of the tasks done by humans in the future.
Other companies have also done layoffs
Not only Meta, but many big tech companies have laid off thousands of employees in the last few months. Companies like Cisco, Microsoft and Amazon have also made large-scale job cuts to reduce costs and increase focus on AI. It is clear from this that the tech industry is changing rapidly and the impact of AI on employment can be seen more in the coming times.
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