Mark Zuckerberg alludes to mass layoffs that could impact over 20% of Meta workforce

The impact of artificial intelligence on the workforce continues to unfold with Meta, Facebook's parent company, planning to let go of as much as 20% of its staff, sources told Reuters. 

What's happening?

The planned layoffs appeared to be the result of both increased spending on AI projects as well as anticipated efficiency gains made possible by the technology. 

Meta did not publicly confirm that the layoffs would be happening. 

"This is speculative reporting about theoretical approaches," said Andy Stone, a Meta spokesperson, per Reuters. 

However, Mark Zuckerberg, the Meta CEO, has said that advances in AI technology would allow companies to do more with fewer workers. In January, Zuckerberg commented that "projects that used to require big teams can now be accomplished by a single very talented person," according to Reuters. 

With Meta employing roughly 80,000 people, a 20% workforce reduction would mean about 16,000 lost jobs. 

Why is it important?

Experts have long warned that AI could alter the very nature of the workforce, potentially leading to massive layoffs and widespread unemployment. For example, Geoffrey Hinton, dubbed "The Godfather of AI," has been outspoken about the risks the technology poses to workers. 

Similarly, Elon Musk, head of xAI and Tesla, has said that he expects that "AI and robots will replace all jobs." 

Without steady, well-paying jobs, a growing number of people could find themselves unable to pay for basic necessities, such as food and shelter. 

What's being done about it?

Advocates have been sounding the alarm about the society-wide shifts in employment that could be ushered in by AI technology. Some have called for expanding government safety nets, such as by offering a universal basic income.

Still, with AI advancing seemingly by the day, it is an open question whether governments and other institutions will be able to keep up.

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