Meta's AI Bet and the Cost of Ambition | Durham News

Durham News Today | 2 Min News | The Daily News Now! · Jul 8, 2026 · 1m

Meta’s meteoric rise in 2023—driven by AI bets and stock surges—came with steep costs: 21,000 layoffs and investor skepticism over its AR glasses. Fast forward to July 2026, and the stock has tumbled 16-18%, forcing more cuts as the company juggles AI ambitions with cash flow. Once a social media giant with just 12,000 employees in 2015, Meta now employs nearly 79,000 globally. Recent layoffs—1,500 from the Metaverse in January, 8,000 across departments in May—reflect a brutal pivot to AI, with 7,000 employees shifted into AI roles and 6,000 new hires canceled. Zuckerberg insists AI will…