Meta Platforms (NASDAQ: META) the parent company of Facebook, is set to begin company-wide layoffs on Feb. 10, 2025, while fast-tracking the recruitment of machine learning engineers, according to internal memos cited by Reuters. The cuts, which aim to eliminate the bottom 5% of employees, could impact around 3,600 positions from Meta’s 72,000-strong workforce as of September 2024. While layoffs will affect most countries, employees in Germany, France, Italy, and the Netherlands will be exempt due to local regulations. Despite the reductions, Meta is prioritizing investments in artificial intelligence, allocating billions of dollars to AI-related infrastructure.
As of Feb. 10, 2025, Meta’s stock is trading at $415.28, up 1.3% from the previous close. The stock has fluctuated between $410.50 and $418.90 during the session, with a trading volume of 8.5 million shares.
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About Meta Platforms Inc.
Meta Platforms Inc. builds technologies that help people connect, find communities, and grow businesses. Its portfolio includes Facebook, Instagram, WhatsApp, and Reality Labs, which develops metaverse-related hardware and software. Headquartered in Menlo Park, Calif., Meta continues to expand its investments in AI, virtual reality, and other emerging technologies.
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