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Meta up nearly 3% in premarket on 'speculative' report of planned layoffs to offset AI spending

Meta's stock rises amid layoff speculation.

Meta's stock increased by nearly 3% in premarket trading following reports that the company is considering laying off over 20% of its workforce, or more than 15,000 employees, to offset significant AI-related expenditures. A spokesperson described the reports as speculative, but the potential layoffs would mark Meta's largest since cutting 11,000 jobs in late 2022 as part of a broader cost-reduction strategy amid escalating AI investments projected to reach between $115 billion and $135 billion this year.

Key Takeaways

1.
Meta may lay off over 15,000 employees, more than 20% of its workforce.
2.
The company plans to invest $115 billion to $135 billion in AI this year.
3.
This potential layoff would be Meta's largest since cutting 11,000 jobs in late 2022.

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