JPMorgan resets forecast on social media giant amid layoff rumors
Airfind news item
By Mwangi Enos
Published on March 17, 2026.
Shares of Meta Platforms rose more than 3% following reports that social media giant may consider cutting over 20% of its employees as it increases its investment in artificial intelligence. The potential workforce reduction could save the company between $5 billion and $6 billion per year, according to analysts at JPMorgan. However, these savings would only slightly offset the company's massive spending plans. The company employed 78,865 workers as of December 31, 2025, and a 20% workforce reduction, based on that figure, could affect roughly 15,773 employees. The investment comes as Meta struggles to catch up with competitors like OpenAI, Anthropic, and Google in developing cutting-edge AI models. The AI jobs debate is heating up across the tech industry, with some suggesting that AI may replace workers or simply force companies to restructure.
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