No more company-wide layoffs this year, says Meta CEO Mark Zuckerberg

He informed the staff on the same day when the social media giant carried out massive restructuring letting go of around 10% of its staff.

"I want to be clear that we do not expect other company-wide layoffs this year. I also want to acknowledge that we haven't been as clear as we aspire to be in our communication, and that's one area I want to make sure we improve," Reuters quoted from the internal memo.

As part of the restructuring, Meta will move around 7,000 employees into new AI roles. Zuckerberg told the employees that success in the AI age isn't a given and that it is a pivotal moment that will define the next generation.

"AI is the most consequential technology of our lifetimes. The companies that lead the way will define the next generation," a report in NBC quoted Zuckerberg as saying.

In an internal memo in April, the Facebook boss detailed the reorganization plan that included cutting around 8,000 jobs and not filling up 6,000 open positions, according to the NBC report. The company said that the layoffs have been planned to offset some of the investments made into AI.

"This is the most dynamic I have seen our industry. I'm optimistic about everything we're building to give billions of people the power to express themselves and connect with the people they care about," Zuckerberg said in his Wednesday note.

He thanked the employees who have been let go of for their contribution to the company even as he expressed that the company hasn't been as transparent as he would have liked, the NBC report said.

Silicon Valley biggies have announced widespread layoffs primarily driven by the AI wave that is sweeping across the tech world as it gears up for the challenge. LinkedIn also announced that it is letting go of more than 600 employees. The AI boom has seen a number of tech roles being slashed causing anxiety among many who fear that their jobs may be impacted by its rising adoption. (ANI)