Meta and Microsoft are planning layoffs or announcing buyouts that could affect as many as 23,000 jobs as they pivot spending to artificial intelligence. Bloomberg’s Brody Ford and Riley Griffin join Ed Ludlow on “Bloomberg Tech” to break down the wider impact the cuts could have on the tech workforce. -------- Like this video? Subscribe to Bloomberg Technology on YouTube: https://www.youtube.com/channel/UCrM7B7SL_g1edFOnmj-SDKg Watch the latest full episodes of "Bloomberg Technology" with Caroline Hyde and Ed Ludlow here: https://www.youtube.com/playlist?list=PLfAX25ZLrPGTygCwn55voYZ_LYyKjxokJ Get the latest in tech from Silicon Valley and around the world here: https://www.bloomberg.com/technology Connect with us on... X: https://twitter.com/technology Facebook: https://www.facebook.com/BloombergTechnology Instagram: https://www.instagram.com/bloombergbusiness/ Follow Ed Ludlow on X here: https://twitter.com/EdLudlow Follow Caroline Hyde on X here: https://twitter.com/CarolineHydeTV Listen to the daily Bloomberg Technology podcast here: https://www.bloomberg.com/podcasts/series/bloomberg-technology More from Bloomberg Business Connect with us on... X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ TikTok: https://www.tiktok.com/@bloombergbusiness
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so 23000 families will face tough times
Meta has to be the most schizophrenic of tech firms from mass firings to mass hiring back to mass firings.
Meta is a useless ad company that hinges on Facebook, a dying platform, and brainrot Instagram. Every other endeavor has been a failure.
And they’ll be going back into a job market that is getting more competitive and overcrowded by the day
The US was created by an Oligarchy for and Oligarchy. Everything is going according to plan.
unrelated to AI "productivity" but all about the AI investment con.
We always lose jobs when we have a Republican president. Every time. Don’t blame AI, the recession is starting as usual.
What should I do I am in 3rd year. in CS degree. In this time if you are average RIP🎉
Zuckerberg made $54B in profit last year and he’s laying off people? That’s why you’ll never see a Meta product in my home!
Housing market is going to crash. All these people in the US getting fired and no one has the money to buy homes.
wake up calls for those who were living on inflated salaries, just get honest jobs…
Trump has wrecked the economy again.
Much of the rapid AI build‑out had been fueled by capital from Gulf states, particularly Saudi Arabia. With regional instability affecting oil revenues and disrupting tourism‑driven economies like Dubai, that flow of investment has tightened. As a result, companies that depended on aggressive funding cycles are now facing cutbacks and layoffs.
AI is the next Metaverse.... BILLIONS of Dollars to be burnt and jobs to be decimated. Those at the Top with share options cash out on the upswing and hang around for a golden parachute exit on the downswing. Note that MicroSoft just pushed 10,000 H1B roles.... thats nice - guess everyone they cut will be replaced with some cheaper imports from Mumbai.
and its started
We are setting ourselves up for a generation that will lack significant talent. At the end there was mention of entry-level jobs one area that has been significantly cut for some time and that has led to considerably large unemployment. Graduates not finding work and being replaced by AI has been the point. These companies are not thinking on a longer term basis. There will be a massive issue with succession. How does one become skilled with no experience or mentorship When the senior level staff (that is equipped with AI) leave, who will take over and will they be skilled and trained as their predecessor? We in the west and US specifically tend to drift from one extreme to another. During COVID we mass hire and now with the rollout of AI we mass fire. Later we realize we need to fix our mistake only to make them once again…
cs degrees are worthless
Seems crazy to spend so much just to regurgitate what's already been said. Makes me wonder what the future will be like. One class of people endlessly consuming regurgitate slop and a small class of people thinking and creating?
Marky Z - $Billions for me, layøffs to ye. 🤦🏼
Meta is shovelware. It only survives by buying up businesses and ruining them. They haven’t had a successful idea of their own since 2007.