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Major companies like Amazon and Target are laying off thousands of white-collar workers, reflecting a shift in the job market as automation and AI technologies advance. Many newly unemployed professionals are facing a tough job market with limited opportunities.
Meta Platforms is cutting approximately 600 jobs from its AI division, impacting teams involved in AI products and research. However, the new TBD Lab unit, which focuses on high-profile AI projects, will not be affected by these layoffs, and the company aims to continue hiring AI talent.
Amazon.com Inc. is set to cut up to 30,000 corporate jobs across several core departments, including logistics, payments, video games, and cloud computing. The layoffs are expected to occur as soon as Tuesday, according to reports from Reuters citing inside sources.