Microsoft and Meta Announce Layoffs Amid AI Investment
Microsoft and Meta announced significant layoffs, with Microsoft offering early retirement to up to 7% of its U.S. workforce and Meta laying off 10% of its employees. The news led to initial stock declines, though both companies recovered some losses the following day. The layoffs are attributed to AI investments, raising questions about whether the cuts are due to AI-driven productivity or 'AI washing'.
Topics: AI Layoffs Meta Microsoft Stock Market Reaction