Approximately 49,000 workers were laid off in 2026 as companies adopted a more AI-reliant business model. Meta has reportedly begun cutting staff in Singapore as the company executes a plan to reduce employee numbers by 8,000 to lean more heavily on AI. Emails were sent out at 4 a.m. Singapore time to affected employees, and staff in the US and Europe were also expected to be notified that morning, Bloomberg reported on Tuesday, citing people familiar with the matter. Meta’s engineering and product teams are expected to be hit hardest. Meta is one of several Big Tech firms cutting staff while investing heavily in AI infrastructure in an effort to streamline operations and reduce costs. An estimated 49,135 layoffs have occurred at US companies in 2026 as a result of AI integration. Read more
The remittance company partnered with Stripe-incubated blockchain Tempo to support stablecoin settlement and help validate transactions across its global payments network. MoneyGram partnered with payments-focused blockchain Tempo to support stablecoin settlement and help validate remittance transactions on the network, as remittance companies increasingly adopt blockchain technology for cross-border transfers. The companies said Stripe plans to settle transactions to MoneyGram using Tempo’s infrastructure as part of efforts to move treasury and payment flows onto stablecoin rails. Tempo is a Layer 1 blockchain incubated by Stripe and Paradigm that focuses on stablecoin transfers and cross-border payments. In April, Visa became an early validator on Tempo, alongside companies including Stripe and Zodia Custody. Read more