Why More Cuts at Meta?
Well let’s face it, it’s not just Meta that’s letting people go. There have been hundreds of thousands of jobs lost in the tech industry in recent years.
Meta’s large-scale cuts kicked off in November 2023 with the most dramatic lay-offs in the company’s history. Around 11,000 employees lost their jobs, which amounted to 13% of the workforce; and the C-Suite weren’t finished there with more cuts announced in March 2024.
These latest cuts come as Zuckerberg continues to pump resources into AI technology development and has his eyes firmly fixed on competitors.
In a July 2024 letter, Zuckerberg stated, “This year, Llama 3 is competitive with the most advanced models and leading in some areas. Starting next year, we expect future Llama models to become the most advanced in the industry.” But this comes with huge expense.
