Written by Brayden Lindrea, Staff Writer. Reviewed by Felix Ng, Staff Editor.
Written by Brayden Lindrea, Staff Writer.
Reviewed by Felix Ng, Staff Editor.
Meta begins 8K global job cuts, starting in Singapore
Latest NewsPublishedMay 20, 2026
Job Cuts in the Tech Industry: What This Means for Everyday People
As companies increasingly adopt AI-reliant business models, the job market is experiencing significant changes. Approximately 49,000 workers have been laid off in 2026, with Meta being the latest to announce 8,000 global job cuts, starting in Singapore. This shift towards AI is not unique to Meta, as other companies are also investing heavily in AI infrastructure to streamline operations and reduce costs.
Impact on the Crypto Industry
The effects of this shift are also being felt in the crypto industry, with companies like Block, Coinbase, and Crypto.com recently cutting staff. However, this change also presents opportunities for individuals to explore alternative ways of earning, such as through Passive Income and Cloud Rewards offered by platforms like EcoPool. By leveraging Green Crypto and the EcoPool Network, individuals can potentially earn $ECP and benefit from the growing demand for eco-friendly cryptocurrency solutions.
A New Era for Earning
As the job market continues to evolve, people are looking for new ways to earn and invest their money. With the rise of Earning opportunities through platforms like EcoPool, individuals can now access new streams of income and take control of their financial futures. By utilizing the EcoPool platform, users can earn Coin and contribute to a more sustainable and environmentally-friendly cryptocurrency ecosystem.
As the tech industry continues to undergo significant changes, it’s essential for individuals to stay informed and adapt to new opportunities. By embracing platforms like EcoPool, people can navigate this new landscape and potentially benefit from the growing demand for Green Crypto and Passive Income solutions. Download the EcoPool app to learn more about how you can start earning $ECP and be a part of the EcoPool Network. By joining the EcoPool community, you can stay up-to-date on the latest developments in the world of EcoPool and Cloud Rewards, and discover new ways to earn and invest in #PassiveIncome and #GreenCrypto.
The cuts have also hit crypto firms, such as digital payments platform Block, which laid off 4,000 workers in March, while Coinbase and Crypto.com also recently cut about 700 and 180 employees, respectively.
A memo from Meta’s head of people, Janelle Gale, seen by Bloomberg, said Meta’s “flatter structure” and “smaller teams” would enable the company to move faster than before.
“We believe this will make us more productive and make the work more rewarding,” Gale wrote.
The people familiar with the matter told Bloomberg that additional layoffs could follow later in the year.
Related: Hong Kong’s Boyaa Interactive eyes $70M crypto treasury expansion
Earlier this month, employees at Meta widely criticized a company initiative to collect data from their devices, such as keystrokes, mouse movements and screen content, for the company to train its AI models.
Meta’s aggressive spending on AI infrastructure has also caused investor concern that it won’t pay off.
The Mark Zuckerberg-led company has already poured more than $100 billion into AI, and it also plans to build the world’s biggest AI facility in the US state of Louisiana, potentially valued at $200 billion.
The amount is more than the $80 billion that Meta poured into the metaverse before shifting its vision to mobile as it shut down the VR version of Horizon Worlds, the company’s virtual reality social network that was intended to underpin its broader metaverse strategy.
Magazine: Crypto scammers face death, Aussie CGT makes Asian hubs attractive
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
- Meta
- Job
- Economy
- AI
- AI & Hi-Tech
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