Trump's Iran threat, Berkshire's airline bet, Lululemon's proxy battle and more in Morning Squawk
Meta is set to lay off approximately 10% of its workforce, contributing to a growing sense of anxiety among employees. The tech industry has seen nearly 110,000 layoffs across 137 firms this year, approaching the total cuts of 125,000 from 2025. Despite these layoffs, particularly in AI-related sectors, stock prices for many affected companies have declined rather than increased.
- ▪Meta plans to reduce its workforce by about 10%.
- ▪There have been almost 110,000 layoffs in the tech industry this year.
- ▪Many companies that announced layoffs due to AI have seen their stock prices drop.
Opening excerpt (first ~120 words) tap to expand
Meta is expected to lay off about 10% of its staff this week. As CNBC's Jonathan Vanian and Julia Boorstin report, the ongoing cuts have created a feeling of dread among the Facebook parent's workforce.Workers across the tech industry are watching stock prices soar while, at the same time, their employers are rapidly cutting heads: According to Layoffs.fyi, there have been almost 110,000 layoffs at 137 tech firms so far this year, already nearing the 125,000 cuts made in 2025.But Wall Street isn't necessarily rewarding AI-related headcount reductions. A CNBC analysis found that among a basket of companies that recently announced layoffs due to AI, the majority of their stocks have dropped since the cuts.
Excerpt limited to ~120 words for fair-use compliance. The full article is at CNBC — Tech.
Discussion
0 commentsMore from CNBC — Tech
