Meta is laying off 10% of its global workforce, about 7,900 employees, as part of a major restructuring focused on integrating AI into its operations. The layoffs will occur in three waves on Wednesday, with affected employees notified by email early in their local time zones. The company aims to create a flatter organizational structure with smaller teams that can move faster and take more ownership, reducing managerial roles. Meta plans to continue investing heavily in AI, with capital expenditures expected to reach $145 billion this year, and may conduct more layoffs later in 2026 as it seeks greater efficiency.
Jim Cramer cautioned that the recent rally in Big Tech stocks like Alphabet, Microsoft, Meta, and Amazon might be more about investor optimism than real improvements in their business fundamentals. Despite positive news such as Warren Buffett's endor...
Meta Platforms faces a lawsuit from 26 employees alleging the company used AI tools and automated metrics to select workers for layoffs, disproportionately affecting those on medical, parental, or family leave. The lawsuit claims Meta's AI-driven per...
TappAlpha introduced the TappAlpha Cboe Magnificent 10 Growth & Daily Income ETF (TMGN), which offers exposure to the Cboe Magnificent 10 Index featuring leading tech companies like Nvidia, Microsoft, and Apple. This ETF applies TappAlpha's options-b...
A group of current and former Meta employees filed a lawsuit claiming the company used artificial intelligence in its recent layoffs in a discriminatory way. The lawsuit alleges Meta's AI systems ignored approved absences like medical or family leave...
Meta faces a lawsuit from 26 employees accusing the company of using AI tools that unfairly targeted workers with disabilities and those on medical leave during recent layoffs. The suit claims Meta's AI system, including an internal bot and activity ...
