Kurt Wagner

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John of God was once Brazil's most famous spiritual healer.

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From Exactly Right and Adonde Media, this is Two-Faced, John of God.

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Yeah, I mean, I believe Meta had something like 79,000 employees at the end of last year.

So we're talking more than 15,000 potential jobs at stake here if they do indeed go as high as 20%.

It does feel very high, but I can say, having spoken with people who work at the company over the last couple weeks, this has been something that's been kind of making the rounds among employees.

A lot of concern that all of this spending on AI is going to ultimately lead to job cuts.

So even if it is not a 20% layoff, there is a lot of

sort of anxiety that there will be some type of cuts or restructuring to basically afford all of these big AI deals that the company's been announcing.

I think that's part of it.

Mark Zuckerberg has talked on the last several earnings calls about essentially using AI to replace some of those mid-level engineering tasks and having the engineers sort of oversee AI agents instead of necessarily writing all the code themselves.

And so part of it could be a productivity thing.

They're not only trying to save money on these deals we talked about, but to your point, Caroline, they have something else that's doing some of the work that the employees are doing.

used to do, so maybe they don't need quite as much headcount for that.

There is going to be a $12 billion commitment from Meta to buy Compute from Nebius.

There is potential for $15 billion more.

Nebius is building some clusters that they're going to be selling to third-party clients.

But if there is excess capacity there, Meta has agreed to acquire it, essentially giving them a little bit of a safety net.