Meta has officially outlined its comprehensive restructuring plans in an internal memo to employees, confirming the 10% workforce reduction that will take effect on Wednesday. According to Reuters, Meta Chief People Officer Janelle Gale informed employees that the company plans to move 7,000 employees to new AI-focused initiatives while eliminating managerial roles. The restructuring represents a 20% impact on Meta's total workforce, with some transfers already completed and others scheduled for Wednesday notification. Employees in North America have been instructed to work from home on Wednesday as part of the implementation process.
In the aftermath of sweeping global layoffs, Oracle has revoked multiple campus placement and pre-placement offers made to students at leading Indian engineering institutes, including several IITs and NITs. The move follows the US technology giant's recent restructuring exercise that reportedly impacted nearly 30,000 employees globally, including a significant number in India. Students from institutions such as National Institute of Technology Warangal, Visvesvaraya National Institute of Technology Nagpur, Indian Institute of Technology Roorkee, Indian Institute of Technology Hyderabad and Indian Institute of Technology (BHU) Varanasi are among those affected, according to Moneycontrol reports. The impacted freshers were informed earlier this week that their offers had been cancelled, leaving many scrambling for opportunities outside campus placements.
On Wednesday, Cisco Systems announced plans to cut under 4,000 jobs, representing about 5% of its workforce, while simultaneously unveiling record revenue for its third fiscal quarter amid soaring demand for AI tools and infrastructure. CEO Chuck Robbins told employees in a memo that "the companies that will win in the AI era will be those with focus, urgency, and the discipline to continuously shift investment" — and that meant "making hard decisions." However, he emphasized that Cisco would help employees impacted by the cuts find new opportunities, "whether internal or external." The announcement comes as the tech giant benefits from significant AI infrastructure orders from hyperscalers, demonstrating the complex relationship between workforce reduction and AI-driven growth.
Financial services provider Block moved to lay off more than 4,000 of its 10,000 plus employees in February, with CEO Jack Dorsey vocal about reconfiguring to capitalize on AI adoption. As per AP, Dorsey stated in a shareholder letter that "intelligence tools have changed what it means to build and run a company," arguing that "a significantly smaller team, using the tools we're building, can do more and do it better." The parent of payment platforms like Square and Cash App is actively reallocating resources to AI-focused roles and products, reflecting the broader industry trend where companies are making difficult decisions to adapt to the AI-driven landscape.
The AI-driven layoff trend extends beyond tech companies, with Dow Inc. announcing plans to cut about 4,500 jobs in January as part of a broader push to "streamline" operations and emphasize AI and automation. Pinterest also laid off under 15% of its workforce in January as part of its pivot to AI-focused roles and products. Notably, Meta plans to lay off about 8,000 workers, or about 10% of its workforce, starting next week, while continuing to ramp up spending on AI infrastructure and expert hires. Despite ongoing layoffs and economic turbulence, markets are hitting all-time highs as companies continue to demonstrate that AI is driving productivity and margin expansion. However, Meta's restructuring has sparked significant employee resistance, with more than 1,000 employees signing a petition against the installation of mouse-tracking software for AI training and criticizing executives for dismissing privacy concerns.
