Meta Lays Off 700

Meta, the parent company of Facebook and Instagram, has laid off 700 employees as part of its efforts to shift focus to artificial intelligence. This move comes as the company is granting stock options to top executives, underscoring the pressure to catch up in the AI battle. According to a CNBC report, the jobs cuts and new stock program for executives are part of Meta's strategy to drive AI adoption.

The layoffs will likely impact the development and maintenance of various Meta tools, including its AI-powered content moderation and advertising platforms. As the company focuses on AI, users of these tools can expect significant changes in the coming months. Meta's new initiative to support entrepreneurship may also lead to the development of new AI-powered tools for small businesses.

The return of Hugo Barra to Meta, as reported by CNBC, highlights the company's urgency to make progress in AI. Barra's experience in leading the development of VR products will likely be leveraged to drive the development of AI agents. As Meta continues to shift its focus to AI, users and developers can expect significant updates to its tools and platforms in the coming months.