More than 90,000 tech workers have been laid off this year. But here’s why companies like Microsoft are offering voluntary buyouts instead

It’s been a tough year for tech workers. Some 92,000 employees have been laid off from tech companies as they look to cut overhead costs and invest heavily in AI. 

Meta announced on Thursday that it plans to cut 10% of workers, or roughly 8,000 employees, to improve efficiency and offset its AI spending. The social media giant also plans to leave 6,000 open roles unfilled.

Microsoft also announced on Thursday plans to slash its workforce, but is taking a different approach: its first ever buyout for experienced workers.