Mark Zuckerberg lays off 8,000 employees, spends $130B on AI

AI Summary

Meta CEO Mark Zuckerberg announced the company laid off 8,000 employees as part of an AI-first restructuring while committing $130 billion to $145 billion in AI spending for 2026. Despite a 28% revenue jump in Q2, Meta's free cash flow plunged 91%, and shares fell 10%.

Meta CEO Mark Zuckerberg says AI has “net created a lot of jobs” thanks to the massive infrastructure buildout, dismissing fears of AI job losses. His remarks come months after Meta laid off 8,000 employees—10% of its workforce—in an AI-first restructuring, while committing $130-145 billion to AI spending in 2026. Meta’s Q2 free cash flow crashed 91% as shares fell 10%, even as revenue jumped 28% to $60.8 billion.