Meta plans to cut 10% of staff, citing AI investments

Meta, the company behind Facebook and Instagram, has told employees it plans to lay off about 10% of its workforce—roughly 8,000 people—with the cuts expected to take effect on May 20. The company is informing staff early, and the move is linked to its heavy investments in artificial intelligence technology.

Other tech firms are also making big AI bets. Anthropic, an AI startup, is planning to spend over $600 billion on AI infrastructure and is developing legal AI tools with a law firm. Meanwhile, Singapore is positioning itself as a neutral hub for AI companies navigating tensions between the US and China.