Meta layoffs starting this week stress harsh AI reality inside Zuckerberg’s company
Meta is facing internal turmoil as layoffs begin, highlighting the challenges of its AI strategy. Employee dissatisfaction has surged, with a significant decline in workplace ratings and concerns over a new data tracking initiative. Many workers are contemplating leaving the company for better opportunities in the AI sector.
- ▪Meta's stock has dropped about 7% this year and almost 5% over the past 12 months.
- ▪Employee ratings on Blind have declined 25%, with a 39% drop in culture ratings.
- ▪A new employee tracking tool has been described as 'dystopian' by workers, raising privacy concerns.
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Wall Street still isn't sold on Meta's story, but that's largely because the company's AI strategy has been scattered and remains largely in flux. The stock is down about 7% so far this year and almost 5% over the past 12 months, underperforming all of its megacap peers other than Microsoft. Whatever anxiety investors are experiencing, the feelings inside the company are more intense, with some long-time staffers questioning Meta's AI pursuits under AI chief Alexandr Wang, while also weighing if now is the time to leave for opportunities at other companies in the AI race, according to current and former employees.
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