Meta cuts 700 jobs as it dangles up to $921 million for top executives in AI push
Meta laid off 700 employees while simultaneously offering up to $921 million in stock options to six top executives tied to AI performance goals.Summary
Meta has cut 700 jobs, primarily within Reality Labs, recruiting, sales, and Facebook, as the company pivots towards artificial intelligence. This restructuring comes less than a day after the announcement of a new stock option program for six top executives, potentially awarding them up to $921 million each if Meta reaches a $9 trillion market capitalization by 2031. Mark Zuckerberg is aggressively pushing Meta into AI, with planned capital expenditures between $115 billion and $135 billion by 2026 to build necessary infrastructure. Reality Labs appears to be the most affected division in this shift, facing cuts of 10-15%. The juxtaposition of layoffs and executive compensation highlights Meta’s strategic realignment towards AI and its willingness to invest heavily in the technology.
(Source：Crypto Briefing)