Meta is starting a new round of layoffs this week, cutting about 8,000 jobs, roughly 10% of its workforce, as part of efforts to improve efficiency and fund increased investments in artificial intelligence. This follows earlier cuts in 2023 and signals more layoffs expected later this year. CEO Mark Zuckerberg has shifted from apologetic tones about past overhiring to a focus on efficiency and AI growth, with Meta raising its 2026 capital expenditure guidance by up to $10 billion. Despite these moves, internal morale is low due to job cuts and controversial employee data tracking for AI training, while Meta’s stock has underperformed compared to peers.
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 ...
