Accra:US tech giant Meta has reported a significant reduction in its workforce, which has decreased by 12% from the previous quarter, bringing the total number of employees to approximately 66,000. This information was shared by Chief Financial Officer Susan Li during the company's third-quarter earnings call.

According to Anadolu Agency – English, the layoffs over the summer impacted around 10% of Meta's workforce, equivalent to about 8,000 jobs. Despite this reduction, Meta is continuing to expand its investment in artificial intelligence infrastructure and services.

The company has adjusted its full-year capital expenditure forecast to a range of $135 billion to $145 billion, increasing the lower end from the previous $130 billion. This expenditure is aimed at supporting the computing infrastructure required for its AI agents and foundation models.

Meta's CEO, Mark Zuckerberg, highlighted that over 10 million people in the US and Canada have set up personal agents using the company's Muse AI assistant in the past month and a half. This development aligns with the company's increasing focus on AI technologies.

The reduction in workforce coincided with Meta's report of a third-quarter revenue of $64.6 billion, marking a 26% increase from the previous year and surpassing analysts' expectations. The company also projected fourth-quarter revenue to be between $73 billion and $76 billion, with the midpoint exceeding analysts' estimates. Following the release of these results, Meta's shares rose approximately 2.5% in extended trading.