Meta resolves a major school district case, but roughly 1,200 related lawsuits remain pending.
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Layoff notifications have long included wording about tough decisions in challenging times. Now, they're also increasingly nodding at how automation is reshaping workforces and companies' priorities.
(Bloomberg) -- Intuit Inc. suffered its worst stock decline in more than two decades after announcing plans to cut about 17% of its staff and reporting slower TurboTax sales than anticipated.Most Read from BloombergSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaIran Says the US’s Latest Proposal Has ‘Narrowed the Gaps’Modi’s Toffee Gift to Meloni Ignites Rally in Wrong Indian StockIran in Talks With Oman Over Permanent Hormuz Toll SystemDow Average Climbs to Record on US-Iran De
(Bloomberg) -- Intuit Inc. suffered its worst stock decline in more than two decades after announcing plans to cut about 17% of its staff and reporting slower TurboTax sales than anticipated.Most Read from BloombergSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaIran Says the US's Latest Proposal Has 'Narrowed the Gaps'Modi's Toffee Gift to Meloni Ignites Rally in Wrong Indian StockIran in Talks With Oman Over Permanent Hormuz Toll SystemDow Average Climbs to Record on US-Iran De
(Bloomberg) -- Intuit Inc. suffered its worst stock decline in more than two decades after announcing plans to cut about 17% of its staff and reporting slower TurboTax sales than anticipated.Most Read from BloombergSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaIran Says the US’s Latest Proposal Has ‘Narrowed the Gaps’Modi’s Toffee Gift to Meloni Ignites Rally in Wrong Indian StockIran in Talks With Oman Over Permanent Hormuz Toll SystemDow Average Climbs to Record on US-Iran De
The Breathitt County School District in Kentucky had sought over $60 million from Meta and other platforms over students' mental health
Meta plans layoffs, management cuts and employee transfers tied to AI initiatives.
(Bloomberg) -- The windfall earned by Asian chip makers is coursing through the world economy, mirroring on a global scale the circular flow of money within the AI ecosystem.Most Read from BloombergSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaModi’s Toffee Gift to Meloni Ignites Rally in Wrong Indian StockSpaceX Shows $4.3 Billion Loss as Musk Targets Record IPOIran Threatens to Retaliate Beyond Middle East If US AttacksNvidia Tells Skeptical Investors AI Is Ready to Go Mainst
Meta began laying off roughly 8,000 employees Wednesday -- about 10 percent of its global workforce -- as co-founder and Chief Executive Mark Zuckerberg pushes to redirect resources toward an ambitious artificial intelligence agenda.In a memo to staff Wednesday, posted by Business Insider, Zuckerberg expressed thanks to departing employees and sought to reassure those remaining.
Intuit reported better-than-expected financial results for its crucial tax season Wednesday, while also announcing a round of layoffs. Intuit said it’s reducing its full-time workforce by 17%. According to Layoffs.fyi, a website that tracks tech layoffs, 111,173 tech employees have lost their jobs in 2026.
Meta CEO Mark Zuckerberg told employees in an internal memo on Wednesday that he does not expect more company-wide layoffs this year, according to a copy of the memo seen by Reuters. He made the announcement on the same day the Facebook owner carried out a massive restructuring of the company, laying off 10% of its workforce globally and transferring 7,000 other employees to new initiatives related to AI workflows. The changes are part of a far-reaching overhaul taking place at Meta this year, as the company surges its AI investments in a bid to center AI agents in both its product offerings and its approach to work internally.
Cost cuts continue as company increases investment in artificial intelligence
Notifications went out Wednesday morning starting in Asia, with U.S. employees expected to hear during their morning
Artificial-intelligence leader Nvidia has a big task when it reports first-quarter earnings later today: convince investors that the AI investment boom still has legs and that Nvidia won’t lose its pole position. Wall Street analysts expect the company to report earnings per share of $1.75, up from 81 cents a year ago. Nvidia remains the biggest winner of the AI age.
(Bloomberg) -- Meta Platforms Inc. is alerting thousands of employees that they’re being laid off, part of a previously announced restructuring aimed at improving efficiency and reducing costs while investing heavily in artificial intelligence.Most Read from BloombergUS Lawmakers Plan New $130 Fee for Electric Vehicle OwnersNATO Is Starting to Consider Hormuz Mission to Protect ShipsUS 30-Year Yield Hits Highest Since 2007 as Selloff DeepensHasbro Cancels Dungeons & Dragons Game From ‘Star Wars’
(Bloomberg) -- Meta Platforms Inc. is alerting thousands of employees that they're being laid off, part of a previously announced restructuring aimed at improving efficiency and reducing costs while investing heavily in artificial intelligence.Most Read from BloombergUS Lawmakers Plan New $130 Fee for Electric Vehicle OwnersNATO Is Starting to Consider Hormuz Mission to Protect ShipsUS 30-Year Yield Hits Highest Since 2007 as Selloff DeepensBillionaire Rinehart Bets $100 Million on US Defense St
(Bloomberg) -- Meta Platforms Inc. is alerting thousands of employees that they’re being laid off, part of a restructuring aimed at improving efficiency and reducing costs while investing heavily in artificial intelligence.Most Read from BloombergUS Lawmakers Plan New $130 Fee for Electric Vehicle OwnersNATO Is Starting to Consider Hormuz Mission to Protect ShipsUS 30-Year Yield Hits Highest Since 2007 as Selloff DeepensBillionaire Rinehart Bets $100 Million on US Defense StocksTrump Says Holdin
(Bloomberg) -- Meta Platforms Inc. is reassigning 7,000 workers to new jobs related to artificial intelligence, according to an internal memo, part of a broad corporate restructuring that includes planned staff reductions later this week. Most Read from BloombergStocks and Oil Whipsaw on Mixed US-Iran Signals: Markets WrapUS Lawmakers Plan New $130 Fee for Electric Vehicle OwnersBillionaire Rinehart Bets $100 Million on US Defense StocksIranian Media Said US Offered Interim Waiver on Oil Sanctio
Meta detailed its layoff plans for this week in a memo shared with employees on Monday, saying cuts to 10% of its workforce globally would be accompanied by a new round of organizational changes aimed at improving the company's AI workflows. The Facebook owner is planning to lay off 10% of its employees on Wednesday, with notifications going out in three batches globally at 4 a.m. local time, according to the memo, seen by Reuters. In the memo, Meta's head of human resources, Janelle Gale, told employees that "many leaders will announce org changes" in coordination with the layoffs.
The company is looking to avoid a potential fine from the bloc’s regulator, which has launched an investigation into a possible breach of antitrust rules.
Santa Clara County says the company profited from fraudulent ads targeting seniors and families.
(Bloomberg) -- Amazon.com Inc. has begun the sale of its first Swiss franc bonds as it looks to raise a record six-part deal in the currency.Most Read from BloombergIran Makes New Offer on Uranium in Response to US, WSJ SaysInside a Year of Chaos and Conflict at Kevin Hart’s Media CompanyEpstein's Black Card: How He Moved Women With His AmexTrump Rejects New Iran Peace Offer as ‘Totally Unacceptable’The company is selling debt due in three, six, nine, 12, 18 and 25-years, according to a person f
Circle CEO Jeremy Allaire takes us inside his better-than-expected first quarter and the outlook for jobs.
(Bloomberg) -- Amazon.com, Inc. is preparing to issue Swiss franc bonds for the first time, as Big Tech hyperscalers turn to new debt markets to fund artificial intelligence spending.Most Read from BloombergIran Makes New Offer on Uranium in Response to US, WSJ SaysTrump Rejects New Iran Peace Offer as ‘Totally Unacceptable’Inside a Year of Chaos and Conflict at Kevin Hart’s Media CompanyDrone Hits Ship Near Qatar as US Awaits Iran Peace Plan ResponseJudge to Review Musk, SEC Settlement Deal in
The stock market has been on a tear during President Donald Trump’s second term. Since Jan. 20, 2025, the S&P 500 has climbed 23.4%. More stunningly, it has surged 48.5% since the April 8, 2025 tariff panic low, as investors decided the White House’s trade fights were survivable and artificial intelligence spending was unstoppable. That ... Uh-Oh! President Trump’s Landmark Tax Cuts Bill Could Be What Kills the Trump Bull Market
The unemployment rate was unchanged at 4.3%. Nike will reduce its workforce by roughly 1,400 workers, or about 2%, mostly in its tech department, as it simplifies global operations. Inflation and economic uncertainty linked to the Iran conflict is giving some chief executives and tech leaders reason to pull back or pause their IT hiring, said Janco Chief Executive Victor Janulaitis.
CoreWeave shares sink as forecast dissapoints.
Meta Under Pressure as Major Publishers Challenge Llama AI Training Practices