The Metaverse's Human Cost Meta, the parent company of Facebook and Instagram, has announced plans to lay off approximately 8,000 employees, about 10% of its workforce.
This move is part of a broader trend in the tech industry where companies are sacrificing human capital for the sake of AI development.
The layoffs follow last month's announcement that around 7,000 Meta employees would be transferred to new organizations focused on building new AI tools and apps.