Just a few years ago Meta’s workforce in Ireland was about 3,000. When the newly announced round of job cuts are complete, the tech giant’s headcount at its Irish bases will be halved.
The reasons for the job losses – the cuts are part of a global redundancy programme – have not been made public but AI is widely acknowledged as a driver. But how?
And Meta isn’t the only company shedding jobs. The Facebook, Instagram and WhatsApp owner joins a list that incudes Amazon, Oracle and Covalen with several tech giants with major footprints in Ireland expected to follow.
In a country which depends so much on global tech giants to prop up the economy, it's a worrying prospect.
But is the IMF right in its pessimism about how AI is going to impact the Irish economy?
Irish Times economics columnist Cliff Taylor explains the AI effect.
Presented by Bernice Harrison. Produced by Suzanne Brennan.
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