Meta will cut 10% of workforce as company pushes deeper into AI; CNBC, April 23, 2026

  Jonathan Vanian, CNBC; Meta will cut 10% of workforce as company pushes deeper into AI

"Meta plans to lay off 10% of its workforce, equaling about 8,000 jobs, as it continues ramping up investments in artificial intelligence.

The cuts will begin on May 20, and the company is scrapping plans to hire people for 6,000 open roles, according to a Thursday memo to employees. Bloomberg was first to report on the layoffs. 

Meta’s latest round of cuts follows several smaller job reductions that the company said was necessary to to improve efficiency while focusing its efforts on generative AI, where it’s lagged OpenAI, Google and Anthropic."

Why drugmakers aren’t sweating the next wave of patent losses; Bloomberg News via News Chief, July 10, 2017

Bloomberg News via News Chief; Why drugmakers aren’t sweating the next wave of patent losses

"Drugmakers plunged off a patent cliff earlier this decade, losing billions in sales as lucrative branded drugs lost exclusivity. An expensive lobbying effort aimed at preventing a repeat is paying off.

The loss of a series of key patents for cholesterol fighters and other widely used medicines cost big-name drug companies about $82 billion in sales between 2011 and 2013, according to life-sciences data company Evaluate Ltd., forcing large-scale job cuts and a wave of deals to make up for lost revenue...

By the time lawmakers passed a path to market for biosimilars as part of the Affordable Care Act in 2010, the industry had assured that competition would come much more slowly, making the resulting sales decline look less like a precipice and more like a gentle hill."