Meta plans 10% workforce reduction amid significant AI investments
via Punch Nigeria2 min read
Meta is set to reduce its workforce by approximately 10%, laying off about 8,000 employees and leaving thousands of other positions unfilled, as it seeks productivity gains while investing heavily in artificial intelligence. This move aligns with co-founder and chief executive Mark Zuckerberg's focus on delivering "superintelligence" in the competitive AI landscape. The company's capital expenses, including infrastructure for AI, reached $22.14 billion in the last quarter, with anticipated capital expenditures for the current fiscal year ranging from $115 billion to $135 billion, driven by increased investment in Meta Superintelligence Labs and its core business. Zuckerberg expressed anticipation for advancing personal superintelligence by 2026. Analysts believe Meta's AI investments will enhance advertising efficiency and create new opportunities, such as with smart glasses. Wedbush analyst Dan Ives suggests further layoffs may occur as Meta uses AI to automate tasks and streamline operations.
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Bishop David Oyedepo, the Founder of Living Faith Church Worldwide, has instructed his church members to provide his phone number to any kidnappers. He stated that he possesses the spiritual authority to ensure their release. Oyedepo shared this during a church service at the Canaanland headquarters in Ota, Ogun State, in a video clip that circulated on social media. He supported his instruction with two anecdotes of what he described as divine intervention in past kidnapping incidents involving church members. In one instance, he claimed to have warned an abductor that they would die within 24 hours if a kidnapped pastor was not released. In another account, he said a female member declared by faith she would be free by 7 a.m., and her captors began harming themselves before releasing her. Oyedepo told members they possess the same spiritual force and need to discover and deploy it.
Must ReadThe World Food Programme WFP has warned that an escalating crisis in the Middle East is causing global food, fuel, and transport costs to rise, potentially pushing millions more people into hunger. Households across Africa and Asia are already experiencing the effects of increased prices due to strained supply chains, higher shipping costs, and delays in the movement of essential goods. In Nigeria's capital, Abuja, a market trader noted that 5,000 naira can barely buy anything, while in Somalia, residents report daily increases in transport and food costs. Parts of Asia, including Myanmar, are also affected, with staple foods becoming more expensive, particularly in remote and conflict-affected areas still recovering from the 2025 earthquake. WFP's Director of Supply Chain, Corinne Fleischer, stated that supply chain disruptions lead to higher food prices, severely impacting families who spend 50 to 70 percent of their income on food. The agency estimates that up to 45 million additional people could face hunger if the crisis persists, bringing the global total to approximately 363 million, with nearly two-thirds of those at risk located in Africa and Asia. Humanitarian operations are also becoming more expensive, reducing the reach of food assistance. The crisis is impacting agriculture and trade, threatening fertilizer supplies and livestock exports in East Africa, and causing smallholder farmers in parts of Asia to reduce planting due to rising costs. WFP is adapting its o
Oladepo Caleb Olugbenga, the overall best graduating engineering student of Ladoke Akintola University of Technology LAUTECH for the 2024/2025 session, recently acknowledged the Nigerian Education Loan Fund NELFUND for enabling his education. Oladepo, who achieved a CGPA of 4.89 out of 5.0 in Electronic and Electrical Engineering, grew up in a village in Osun State without electricity for nine years, where his family struggled daily for basic necessities. He attended public schools due to financial constraints and walked miles to school each morning. After being formally named LAUTECH's best graduating engineering student on January 14, he posted on X, stating, “I’m honoured to let you know that I am the Best Graduating Student of LAUTECH. Your loans made it possible.” This post garnered significant attention, with some praising his achievement and his public gratitude towards the student loan scheme, while others criticized it as politicizing his success. NELFUND responded to his post, congratulating him and expressing pride in their role. Oladepo later clarified his position, explaining his humble background and emphasizing that NELFUND was instrumental, not incidental, to his journey. He stated that acknowledging what helped one's journey is an act of appreciation, not propaganda. Bayo Onanuga, Special Adviser on Information and Strategy to President Tinubu, cited Oladepo's story as evidence of the administration's policy intent to help students facing financial challenges
Senator Oluremi Tinubu, wife of President Bola Tinubu, inaugurated the newly completed Lodge Road in Kano State's Nasarawa Local Government Area and flagged off the construction of Sarkin Yaki Road in the Fagge Local Government Area. Mrs. Tinubu, who was in the state for the Energise Commercialisation Now initiative, was accompanied by Governor Abba Kabir Yusuf and other officials. The projects aim to improve infrastructure and boost economic activities. The First Lady highlighted the importance of quality road infrastructure for movement of people and goods, improved security, and stronger economies, calling for collaboration across government levels. Governor Yusuf described the visit as a testament to partnership for development, stating his administration's commitment to initiatives promoting growth and modernization. He added that the projects would enhance transportation, create business opportunities, and contribute to urban renewal in Kano. The event was attended by senior government officials, traditional leaders, and political stakeholders, including Deputy Senate President Barau Jibrin.