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Meta's chief technology officer stated that employee morale is among the lowest it has ever been. The company has cut more than 32,000 positions since late 2022 while shifting resources toward artificial intelligence.
Meta chief technology officer Andrew Bosworth told employees this month that morale is "probably one of the worst it's ever been" and that the company had done "an atrocious job" with its recent restructuring. " The remarks came after years of repeated job reductions and internal policy changes.
Meta eliminated 11,000 positions in late 2022.
It cut another 10,000 jobs in 2023 and 3,600 positions in 2025, with the stated goal of removing low performers. In March 2026 the company signaled further reductions that were confirmed in May, when it laid off 8,000 employees and reassigned 7,000 others to artificial-intelligence training tasks.
Chief Product Officer Chris Cox told Instagram staff that working at the company felt like "running a marathon in the middle of a hailstorm." CEO Mark Zuckerberg stated that the company had "made mistakes." Meta declined to comment on the reporting.
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businesstoday.inThe Federal Reserve's preferred inflation gauge rose to a three-year high in May. Consumer spending and income both increased more than expected while GDP for the first quarter was revised higher.
qz.comMicron Technology reported third-quarter profit of $28.2 billion, up nearly 15 times from a year earlier, and said customers had committed $22 billion for future chip supplies. The results reversed a sharp sell-off in AI-related stocks that hit markets earlier in the week.
theiranproject.comIran and Oman foreign ministers held a phone call stressing coordination on maritime traffic through the Strait of Hormuz. The call focused on regional maritime security and traffic management in the waterway.