Meta cuts 700 jobs across Reality Labs and recruiting as AI spending doubles to $135 billion
Meta laid off approximately 700 employees across Reality Labs, recruiting, and social media divisions as it accelerates its strategic shift to AI. The workforce reductions come as the company plans to spend up to $135 billion on AI infrastructure in 2026, nearly double last year's investment. Meanwhile, Meta unveiled a stock compensation program worth up to $921 million for six top executives.