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Meta, Microsoft look to trim workforces amid heavy AI spending
Meta, Microsoft look to trim workforces amid heavy AI spending

Meta told personnel in an internal memo on Thursday that it planned to cut 10% of workers.

By Kurt Wagner, Brody Ford and BloombergApril 23, 2026
President Donald Trump
People living in the U.S. with temporary protected status, targeted by Trump, are a $29 billion economic force
By Tristan BoveApril 23, 2026
David Ellison smiles
Paramount’s $81 billion Warner Bros mega merger moves closer to becoming a reality as shareholders approve deal
By Wyatte Grantham-Philips and The Associated PressApril 23, 2026
U.S. President Donald Trump speaking in the White House Oval Office
Trump’s team is hosting another memecoin conference. The price to attend has dropped dramatically
By Jack KubinecApril 23, 2026
A man walks on a patch of land that is dried and cracked
The world has entered a ‘global water bankruptcy,’ but markets are mispricing water as drought costs rise to $307 billion annually, analysts warn
By Sasha RogelbergApril 23, 2026
Sad nurse sitting on stairs reading bad news on mobile phone
The tech industry is applying an Uber-style ‘gigification’ model to nursing. It means no workers’ comp, AI managers, and ‘surveillance wages’
By Tristan BoveApril 23, 2026
Latest Stories
Esther, Janet, Susan, and Anne Wojcicki stand in formal dresses and pose.
Success‘Godmother of Silicon Valley’ Esther Wojcicki, mother of the YouTube and 23andMe CEOs, shares her secret to raising future leaders 
By Jacqueline MunisApril 23, 2026
Pope Leo says he carries a photo of a slain Muslim boy in his pocket: ‘I cannot be in favor of war’
PoliticsPope Leo says he carries a photo of a slain Muslim boy in his pocket: ‘I cannot be in favor of war’
By Nicole Winfield and The Associated PressApril 23, 2026
‘It was like this little gift that fell in my lap’: Millions of Americans may soon discover they’ve been Canadian all along
North America‘It was like this little gift that fell in my lap’: Millions of Americans may soon discover they’ve been Canadian all along
By The Associated Press and Sarah RazaApril 23, 2026
A trader works at the New York Stock Exchange in New York on April 22, 2026.
Big TechStocks retreat from record highs as Tesla weighs on Wall Street and oil jumps on Iran uncertainty
By Stan Choe and The Associated PressApril 23, 2026
altman
AIOpenAI releases GPT-5.5 amid a shift to rapid-fire AI updates
By Sharon GoldmanApril 23, 2026
trump
EnergyTrump’s strategy for a mined-shut Strait of Hormuz: appease Joe Rogan with psychedelics and weed
By Nick LichtenbergApril 23, 2026
desantis
Workplace Culture‘The disfavored groups, No. 1, obviously, would be white males’: Ron DeSantis is still signing anti-DEI legislation
By Mike Schneider and The Associated PressApril 23, 2026
child
LawAmerica actually listened to the parental childcare crisis with record number of 4-year-olds in state preschool
By Moriah Balingit and The Associated PressApril 23, 2026
More EconomyPage 61 of 100
Japan's Prime Minister Sanae Takaichi (L) shakes hands with Chinese President Xi Jinping ahead of the Japan-China summit on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit in Gyeongju on October 31, 2025.
AsiaTrump may have skipped APEC—but Xi’s using it to sell China as globalization’s last defender
By Hyung-Jin Kim, Kim Tong-Hyung, Huizhong Wu and The Associated PressOctober 31, 2025
  • broker
    EconomyGold plunges below $4,000 as U.S.-China truce erodes haven demand
    By Yvonne Yue Li, Sybilla Gross, Yihui Xie and BloombergOctober 27, 2025
Children’s clothing outlet Carter’s is ‘right-sizing’ by shuttering 150 locations because of high-cost tariffs and product investments
North AmericaChildren’s clothing outlet Carter’s is ‘right-sizing’ by shuttering 150 locations because of high-cost tariffs and product investments
By Alex Vuocolo and Retail BrewOctober 31, 2025
The bloodbath in stocks was ‘the end of the cutting season,’ BofA says: Now we’re on alert for the ‘fail risks’ of 2025
InvestingThe bloodbath in stocks was ‘the end of the cutting season,’ BofA says: Now we’re on alert for the ‘fail risks’ of 2025
By Jim EdwardsOctober 31, 2025
Senate Majority Leader John Thune has adjourned the Senate until Monday, at which point negotiations to resolve the government shutdown will resume.
EconomyThe government shutdown won’t be completely recouped—and it could cost the economy up to $14 billion, estimates say
By Nino PaoliOctober 31, 2025
Sam Altman with a colorful window behind him
EconomySince ChatGPT launched, job openings are down 30% while the stock market is up 70%. One economist says the true culprit isn’t AI, but monetary policy
By Dave SmithOctober 31, 2025
Goldman Sachs survey says only 11% of companies are actively linking layoffs to AI—but the real shock is yet to come
AIGoldman Sachs survey says only 11% of companies are actively linking layoffs to AI—but the real shock is yet to come
By Marco Quiroz-GutierrezOctober 30, 2025
  • ‘Maduro started the war, President Trump is ending the war,’ says Nobel winner in hiding for her life
    Conferences‘Maduro started the war, President Trump is ending the war,’ says Nobel winner in hiding for her life
    By Orianna Rosa RoyleOctober 27, 2025
Trump boasts after ‘amazing’ meeting with Xi, but China suggests trade deal isn’t done
AsiaTrump boasts after ‘amazing’ meeting with Xi, but China suggests trade deal isn’t done
By The Associated Press and Elaine KurtenbachOctober 30, 2025
Jerome Powell, chairman of the US Federal Reserve, during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, Oct. 29, 2025.
EconomyJerome Powell says the AI hiring apocalypse is real: ‘Job creation is pretty close to zero’
By Eva RoytburgOctober 30, 2025
A line of Chipotle workers behind the counter assemble burrito bowls.
North AmericaChipotle CEO sounds alarm on the American economy: Gen Z and millennials are too burdened by unemployment and student loans to eat out
By Sasha RogelbergOctober 30, 2025
A sign in a Kwik Trip store shows the store will no longer be using pennies to give change, on Oct. 23, 2025, in Yorkville, Wis
EconomyAmerica’s officially running out of pennies — and it’s costing retailers millions
By Ken Sweet and The Associated PressOctober 30, 2025
Bank of America CEO Brian Moynihan
EconomyBrian Moynihan warns government shutdown risks slowing the economy—and urges policymakers to address fiscal concerns with a ‘clear head’
By Eleanor PringleOctober 30, 2025
  • Chancellor of the Exchequer Rachel Reeves (R) on stage at Fortune Global Forum in Riyadh.
    ConferencesRachel Reeves says the U.K. has been successful with Trump 2.0 because it shares the same concerns about global imbalances
    By Eleanor PringleOctober 27, 2025
Powell gave traders a green light to double down on AI—but the markets punished Meta and Microsoft anyway 
InvestingPowell gave traders a green light to double down on AI—but the markets punished Meta and Microsoft anyway 
By Jim EdwardsOctober 30, 2025
President Donald Trump and Xi Jinping shake hands in 2019 before a bilateral meeting on the sidelines of the G20 Summit in Osaka, Japan.
North AmericaTrump and Xi Jinping meet at a temporary trade truce just days after China purchased its first U.S. soybeans from this year’s harvest
By Nino PaoliOctober 30, 2025
Why ASEAN membership matters for Southeast Asia’s smallest economy: It’s a ‘credible signal’ of stability to wary international investors
AsiaWhy ASEAN membership matters for Southeast Asia’s smallest economy: It’s a ‘credible signal’ of stability to wary international investors
By Angelica AngOctober 30, 2025
US Federal Reserve Chair Jerome Powell speaks during a press conference at the end of a Monetary Policy Committee meeting in Washington, DC, on October 29, 2025. The US Federal Reserve on Wednesday announced its second consecutive quarter-point rate cut to bolster the flagging labor market, unveiling a decision that highlighted the growing division in its ranks. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)
BankingPowell warns not to count on a December rate cut just yet—the Fed is extremely divided, and a further cut is ‘not a foregone conclusion. Far from it’
By Eva RoytburgOctober 29, 2025
A young woman lies sideways, looking at her laptop and frowning.
EconomyAmerica’s flatlining income growth is hitting Gen Z the hardest, throttling their shot at homeownership, JPMorgan report warns
By Sasha RogelbergOctober 29, 2025
Jerome Powell, chairman of the US Federal Reserve, during the Federal Reserve Board open meeting in Washington, DC, US, on Friday, Oct. 24, 2025.
EconomyPowell cuts rates in the dark in historic move, with no jobs data and Trump heckling from abroad
By Eva RoytburgOctober 29, 2025
U.S. President Donald Trump
EconomyGovernments are likely to pillage the $80 trillion ‘Great Wealth Transfer’ to fund their national debt, says UBS
By Eleanor PringleOctober 29, 2025
You can expect a 0.25% cut from the Fed, says Wall Street, but little economic insight from Powell—after all, he doesn’t have much to go on
EconomyYou can expect a 0.25% cut from the Fed, says Wall Street, but little economic insight from Powell—after all, he doesn’t have much to go on
By Eleanor PringleOctober 29, 2025
Federal Reserve Chairman Jerome Powell
InvestingWall Street is in a risk-on mood as it waits for Powell to deliver on the ‘Fed put’
By Jim EdwardsOctober 29, 2025
Large group of displeased business people carrying carton boxed with their belongings after being fired from their jobs. Focus is on senior woman.
AIEveryone thinks AI is replacing factory workers, but Amazon’s layoffs show it’s coming for middle management first
By Eva RoytburgOctober 29, 2025
Europe’s giants still rule as startups struggle to crack the Fortune 500 Europe
EuropeEurope’s giants still rule as startups struggle to crack the Fortune 500 Europe
By Adam GaleOctober 29, 2025
Layoffs from big corporations are cutting jobs thousands of jobs in the months and years to come.
Future of WorkFrom retail to tech, here are the 10 corporations that recently announced mass layoffs
By Wyatte Grantham-Philips and The Associated PressOctober 28, 2025
The New York Stock Exchange on Monday, Oct. 13, 2025.
InvestingPayPal and UPS are sparking a late-session rally, powering stocks to fresh records
By Stan Choe and The Associated PressOctober 28, 2025
Ford's enormous F-150
EconomyFord’s enormous F-150 becomes unlikely part of Japan’s efforts to woo Trump
By The Associated Press and Mari YamaguchiOctober 28, 2025
Investor Cathie Wood predicts a ‘shudder’ in Big Tech valuations, saying higher rates may test investor faith
EconomyInvestor Cathie Wood predicts a ‘shudder’ in Big Tech valuations, saying higher rates may test investor faith
By Marco Quiroz-GutierrezOctober 28, 2025
Sunny Verghese, CEO of food and ag company Olam Group, speaks at Fortune Global Forum in Saudi Arabia on Sunday.
ConferencesThe world is about $4.5 trillion short of securing a sustainable food supply for the future, global food and ag business CEO says
By Nino PaoliOctober 28, 2025
Ngozi Okonjo-Iweala
ConferencesWTO director-general says calling the trade wars the greatest disruption since the 1930s is ‘the understatement of the century’—but it’s not a repeat
By Nick LichtenbergOctober 27, 2025
Candy inflation has spooked so many consumers almost 80% say they’re forced to scale back how much to buy for Halloween
EconomyCandy inflation has spooked so many consumers almost 80% say they’re forced to scale back how much to buy for Halloween
By Jeena Sharma and Retail BrewOctober 27, 2025
The world is headed for re-globalization not de-globalization, as ‘coalitions of the willing’ emerge, Mastercard chair and former USTR official says
ConferencesThe world is headed for re-globalization not de-globalization, as ‘coalitions of the willing’ emerge, Mastercard chair and former USTR official says
By Jason MaOctober 27, 2025
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When interest on national debt overtook military spending, it triggered a limit where the U.S. may ‘cease to be a great power,’ warns Hoover historianplaceholder alt text
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