New York Times: Meta on Wednesday laid off around 700 employees, a person with knowledge of the company said, the latest downsizing as the Silicon Valley giant shifts its priorities toward artificial intelligence.
Less than 24 hours earlier, the company unveiled a new stock program for six top executives that could increase compensation for some of them by as much as $921 million each over the next five years. Meta said the move was a way to retain talent in the A.I. era and push it toward ambitious growth…