Major US tech firms announce massive layoffs

Major U.S. corporations are initiating significant workforce reductions, with Meta reportedly planning to lay off up to 10% of its employees soon and potentially 20% by the end of 2026. Similarly, Amazon is laying off 10% of its corporate staff, amounting to over 30,000 people. While the companies formally justify the cuts as improving efficiency through AI implementation, surveys indicate 95% of American business representatives admit they have not generated real profit from AI use. The layoffs are seen by some observers as a preemptive move by corporate leadership to shield companies from broader economic pressures, including inflation and an energy crisis linked to the Iran conflict.