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Mark Zuckerberg’s Meta plans to lay off 10% of its workforce in a companywide bloodbath next month – with even more cuts to follow later in the year, according to a report Friday. The Instagram parent will ax nearly 8,000 employees in the initial round set for May 20, Reuters reported. More layoffs are expected in the second half of the year, but Meta executives have yet to decide how extensive they will be or exactly when they will occur. Meta’s plans could be adjusted based on the state of the company’s artificial intelligence capabilities, sources ominously told the outlet. Zuckerberg has set about integrating AI tools into every facet of Meta’s business – to the point that the company is even developing a “photorealistic” 3D clone of the billionaire to chat with employees. The layoffs at Meta are just the latest sign of AI-related upheaval that has swept through the tech industry in recent months. Instagram rival Snap slashed about 1,000 jobs earlier this week, with CEO Evan Spiegel stating that AI would “enable our teams to reduce repetitive work, increase velocity, and better support our community, partners, and advertisers.” Elsewhere, financial tech firm Block said in February it would cut 40% of its workforce, or more than 4,000 employees, while pivoting to a full embrace of AI tools. “Within the next year, I believe the majority of companies will reach the same conclusion and make similar structural changes. I’d rather get there honestly and on our own terms than be forced into it reactively,” Block CEO Jack Dorsey wrote in an open letter. Amazon axed an eye-popping 30,000 corporate jobs last fall while embracing AI to boost productivity.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
