Meta is preparing a sweeping workforce overhaul tied to its aggressive artificial intelligence push, including plans to move thousands of employees into AI-focused roles while cutting managers and laying off workers this week.

The Facebook parent plans to lay off roughly 10% of its workforce Wednesday as part of a broader restructuring tied to CEO Mark Zuckerberg’s effort to remake the company around AI tools and autonomous agents, according to an internal memo obtained by Reuters.

In the memo circulated Monday, Meta Chief People Officer Janelle Gale said the company plans to transfer roughly 7,000 employees into new AI initiatives while eliminating layers of management and flattening organizational structures.

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The Facebook parent plans to lay off roughly 10% of its workforce Wednesday as part of a broader restructuring. (David Paul Morris/Bloomberg via Getty Images)

The shake-up, along with previous transfers and role eliminations, will ultimately affect about 20% of Meta’s workforce, according to the memo.

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The company had nearly 78,000 employees as of the end of March, according to securities filings.

The overhaul comes as Meta pours billions into AI infrastructure and tools amid intensifying competition with OpenAI, Google and Microsoft. The company increasingly wants AI agents to perform tasks now handled by human employees internally, according to Reuters.

Meta had nearly 78,000 employees as of the end of March, according to securities filings. (Nikolas Kokovlis/NurPhoto via Getty Images)

“As org leaders worked on the changes, many of them incorporated AI native design principles into their new org structures,” Gale wrote in the memo. “Many orgs can operate with a flatter structure with smaller teams of pods/cohorts that can move faster and with more ownership.”

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Some of the employees being reassigned — a process workers reportedly refer to as being “drafted” — are moving into teams like Applied AI Engineering and Agent Transformation Accelerator, groups focused on building AI systems capable of autonomously performing workplace functions.

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Meta has also reportedly closed roughly 6,000 open job postings during the restructuring process – changes which have triggered growing backlash inside the company.

Massive investment in artificial intelligence infrastructure is helping shape the next phase of the digital economy, according to one investment expert watching Wall Street’s AI race.

ProCap Financial Chairman and CEO Anthony Pompliano joined FOX Business’ Maria Bartiromo on “Mornings with Maria” to discuss the surge in AI investment, growing interest in digital assets and how his firm’s AI-powered financial platform is helping users navigate increasingly complex markets.

Rows of servers in a Dallas, Texas data center (Ben Torres/Bloomberg / Getty Images)

“The market is showing us that the AI trade is real,” Pompliano said. “One of the things is that the United States of America is laying the groundwork for the next century.”

Pompliano said artificial intelligence requires significant energy, data center capacity and computing power as companies work to expand the infrastructure behind the technology.

His comments come as major technology companies continue ramping up spending on AI chips, cloud infrastructure and energy-intensive data centers to meet demand tied to generative AI tools. Companies including Nvidia, Microsoft, Amazon and Google have committed billions to expanding AI capacity as Wall Street races to capitalize on the technology boom.

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Pompliano also pointed to growing demand for personalized AI tools in finance, arguing that models with access to an individual’s portfolio data can provide more tailored guidance than general-purpose chatbots.

“One of the problems with the general purpose models like a ChatGPT or a Claude is that it doesn’t have the context of your personal financial information,” Pompliano said.

The discussion also touched on cryptocurrency markets, where Pompliano said institutional adoption of Bitcoin continues to grow despite ongoing volatility.

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Pompliano said adoption is increasingly being driven by large financial firms seeking risk-adjusted returns for clients.

“Wall Street’s getting in the game,” Pompliano said. “You’re starting to see these really big firms that are very smart, who are looking for risk-adjusted returns.”

The conversation underscores how AI investment and digital assets remain central to Wall Street’s evolving strategy as firms search for long-term growth opportunities.

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Sony is preparing to refresh its flagship Xperia lineup with the anticipated Xperia 1 VIII and mid-range Xperia 10 VIII, fueling speculation about release dates, design upgrades and new features for 2026.

While Sony has not yet made any official announcements, leaks and industry reports suggest the Japanese tech giant could unveil the Xperia 1 VIII as early as May or June 2026, following its traditional spring launch window for flagship models. The Xperia 10 VIII is expected to follow shortly after, likely in late summer or early fall, continuing Sony’s strategy of spacing out its premium and mid-tier releases.

The Xperia 1 series has built a loyal following among photography enthusiasts and power users who appreciate Sony’s focus on pro-grade camera systems, 4K HDR displays and headphone jack retention — features that have become rare in modern flagships. According to supply chain sources, the Xperia 1 VIII is expected to feature a refined 6.5-inch 4K OLED display with improved brightness and LTPO technology for better power efficiency. The phone is rumored to be powered by Qualcomm’s next-generation Snapdragon 8 Gen 5 chipset, promising significant gains in AI processing and gaming performance.

Camera upgrades are expected to be a major highlight. Sony is reportedly working on enhanced sensor technology, possibly including a new variable aperture main lens and improved low-light capabilities powered by advanced computational photography. The distinctive side-mounted shutter button, a hallmark of the Xperia line, is likely to return with additional customizable functions for creators and photographers.

Battery life has been a consistent point of feedback for previous Xperia 1 models. The Xperia 1 VIII is said to include a larger 5,000mAh battery paired with faster 45W wired charging and improved wireless charging support. Design-wise, leaks point to slimmer bezels, a more premium titanium frame option and enhanced water and dust resistance ratings.

On the software side, Sony is expected to promise at least four years of OS updates and five years of security patches, addressing past criticisms about its update policy compared to Samsung and Google.

The Xperia 10 VIII, aimed at the mid-range segment, is rumored to bring more accessible pricing while maintaining several flagship-inspired features. Expect a 6.1-inch OLED display with FHD+ resolution, a capable Snapdragon 7-series processor and a triple camera setup focused on versatility rather than raw performance. The phone could serve as an attractive option for users seeking clean Android software, reliable build quality and Sony’s signature design language without flagship pricing.

Industry analysts suggest Sony’s 2026 strategy will focus on differentiation rather than chasing mass-market volume. The company has carved out a niche with its pro-video and photography tools, appealing to content creators, filmmakers and enthusiasts who value features like manual camera controls, 21:9 aspect ratio displays and headphone jacks.

Sony’s smartphone division has faced challenges in recent years, with global market share remaining relatively small compared to Samsung, Apple and Chinese brands. However, the company has shown commitment to the Xperia line by consistently delivering unique hardware and software experiences that stand apart from the Android crowd.

The timing of the Xperia 1 VIII launch could align with major photography events or tech trade shows, allowing Sony to showcase new imaging capabilities. Pre-orders and availability are expected to begin shortly after the official unveiling, with initial rollout focused on key markets including Japan, Europe, the United States and select Asian countries.

Pricing remains one of the biggest unknowns. The Xperia 1 VII launched at a premium, and the new model is likely to follow suit, though Sony may adjust positioning based on market feedback and competitive pressure. The Xperia 10 VIII is expected to offer strong value, potentially starting under $500 in many regions.

Consumer reaction to the rumors has been mixed but generally positive among dedicated Xperia fans. Many appreciate Sony’s refusal to follow industry trends toward punch-hole cameras and curved displays, instead maintaining a more traditional aesthetic with flat sides and minimal bezels. Others hope the company will finally improve software update cadence and address past criticisms regarding heating and battery optimization.

The Xperia series has also gained attention from professional users. Filmmakers and content creators value the phones’ video recording capabilities, including support for high bit-rate codecs and external monitor connections. Sony’s continued investment in this area could help differentiate its devices in an increasingly crowded market.

As 2026 approaches, all eyes will be on Sony’s ability to execute a strong refresh. The Xperia 1 VIII will need to deliver meaningful upgrades to justify its expected premium price, while the Xperia 10 VIII must compete effectively against strong mid-range offerings from Samsung, Google and Chinese manufacturers.

For now, the rumor mill continues to churn with excitement. Whether Sony can reclaim some lost ground in the smartphone market with these new models remains to be seen, but the Xperia 1 VIII and Xperia 10 VIII are already generating significant anticipation among fans who value innovation over mass-market appeal.

The coming months will bring more concrete details as Sony prepares for its traditional launch cycle. Until then, enthusiasts will continue dissecting leaks and speculating about how the next generation of Xperia devices might evolve the unique formula that has defined the lineup for years.

Sony’s commitment to the Xperia brand, despite challenges, reflects a belief that there remains room in the market for distinctive, photography-focused smartphones. The 2026 models could prove pivotal in determining the long-term future of Sony’s mobile ambitions.

CEO of the Development Bank of Wales Giles Thorley says the question is not whether North Wales can grow, but how that growth is shaped and who benefits from it.

From large industrial estates to stunning coastlines, North Wales is a region of stark contrasts. It combines some of the UK’s most significant industrial and energy assets but also rural and coastal communities and a fantastic tourism sector –communities that face very different economic realities.

That contrast is not a weakness. In fact, in many ways, it is one of the region’s defining strengths. But it does mean that growth, if it is to be sustained and inclusive, requires a more deliberate, place-based approach enabling businesses to invest, scale and compete.

Placing the HQ of the Development Bank of Wales in Wrexham was an acknowledgement that North Wales had historically been underrepresented but is a core strategic region. Not just because of its existing industrial base, but because of the scale of opportunity now emerging as major investment programmes move from planning into delivery.

The question is not whether North Wales can grow. It is how that growth is shaped, and who benefits from it.

Deep foundations

North Wales is often described as a single economic area, but in practice it is highly diverse. Across Ynys Môn, Gwynedd, Conwy, Denbighshire, Flintshire and Wrexham, the economic picture varies considerably. Tourism ranges from the staggering beauty of the mountains and countryside to the glorious beaches and coastline. Increasingly, it also reflects a move towards high-quality, year-round attractions that draw visitors from across the UK and beyond.

Attractions such as Zip World, with sites across the region, have become anchor destinations in their own right, reinforcing North Wales’ reputation as a leading adventure tourism destination and extending the economic impact beyond traditional seasonal peaks. Having served as chair of Zip World, I have seen at close quarters the contribution that businesses like these can make to the region’s economy.

In the north east, particularly around Wrexham and Deeside, there is a strong concentration of advanced manufacturing, engineering and industrial services. These businesses are closely integrated with supply chains in the North West of England and are often export-focused, forming a critical part of the wider UK industrial base. Assets such as Wrexham Industrial Estate, one of the largest in Europe, underline the scale and capability that already exists.

Further west, the picture shifts. Businesses tend to be smaller, owner-managed and often rooted in tourism, hospitality, food production and the foundational economy. These sectors are vital to local communities sustaining employment, skills and resilience in coastal and rural communities.

Both parts of the region matter. The challenge is ensuring that investment reflects that diversity and drives local community impact rather than assuming a one-size-fits-all model.

Growth opportunities are immediate

But there is a clear sense that North Wales is entering a new phase where long planned investment can translate into commercial opportunity.

Energy and decarbonisation are perhaps the most obvious examples. The identification of Wylfa on Anglesey as a site for the UK’s first fleet of small modular reactors, alongside activity in hydrogen, renewables and industrial decarbonisation, points to a long-term structural shift in the region’s economy.

That shift will not just create opportunities for large infrastructure projects. It will ripple through supply chains, creating demand for smaller businesses developing specialist capabilities.

We are already seeing early signs of that. On Anglesey, Ecodetect is developing AI-driven technology to help offshore energy developers monitor environmental impact at scale – a clear example of how innovation and clean growth are beginning to intersect.

Elsewhere, businesses like JBF Group in Wrexham are investing in advanced building materials and low-carbon manufacturing, supported by a mix of public and private capital. There are also clear examples of North Wales businesses scaling successfully into global markets.

Aparito, originally founded in Wrexham, developed digital health solutions to support patients with rare diseases and achieved significant international growth before its acquisition by Eli Lilly and Company. Stories like this demonstrate the region’s ability not only to innovate, but to build businesses that attract global interest and investment.

In addition, public investment initiatives are opening up infrastructure and skills pathways essential for business growth. Their worth goes beyond just providing funding. They also instil confidence in private investors and support long-term business decisions.

Local growth matters

At the same time, growth is being driven by the decisions of thousands of local business owners responding to opportunity in their own markets.

Rib Ride on the Menai Strait is a good example. A well-established tourism business, it is investing to extend its operating season, create new training opportunities and support local supply chains. That kind of incremental growth can be just as important in terms of jobs, skills and local resilience.

Similarly, regeneration-led developments such as those led by The Neighbourhood Group on Anglesey, show how targeted investment can unlock the potential of local assets, in this case through the renovation of disused buildings, while creating long-term economic value.

These investments may look different from those in advanced manufacturing or energy, but they play a critical role in ensuring that growth is felt across the region.

Structural challenges

For all these strengths, it is important to recognise the challenges.

Productivity in North Wales remains below UK averages. Skills gaps persist, particularly in higher-value technical roles. Demographic pressures, including an ageing population and outward migration, risk constraining future labour supply.

Connectivity also continues to be a limiting factor, whether that is digital infrastructure, transport links or access to suitable business premises. These are not new issues, but they do shape the investment decisions businesses are willing and able to make. Productivity, skills availability and connectivity all influence whether firms can scale, modernise or take on new contracts.

Alongside this, the region’s universities play a critical role in underpinning future growth. Bangor University and Wrexham University are not only major employers in their own right, but also key partners in developing the skills pipeline, supporting research and innovation, and anchoring economic activity in their communities. Bangor University is also one of our partners in Economic Intelligence Wales, further strengthening the link between academic insight and economic strategy.

This is where development finance has a specific role to play. Working alongside businesses as long-term partners, not just as providers of funding. In North Wales, we see consistent demand for patient capital. Businesses looking to scale, transition ownership or invest in new capability often require funding that is flexible and aligned to long-term outcomes.

That is particularly true in manufacturing and energy-adjacent supply chains, where investment horizons are longer and returns are not always immediate. It is equally important in smaller, rural businesses where access to commercial finance can be more constrained.

Having a local presence matters here. Local insight is often the difference between a transaction and a long-term partnership.

North Wales has never lacked assets or ambition. What is changing now is the scale of opportunity – from industrial growth in the north east to clean energy on the Island of Anglesey and regeneration across coastal communities.

The task is to connect those opportunities with the right kind of investment. Investment that is patient, that is place-based, and that recognises the diversity of the region. If we get that right, North Wales will not only grow, but to do so in a way that is more balanced, more resilient and more inclusive. That is the ultimate prize.

• Giles Thorley is chief executive of the Development Bank of Wales.

Britain’s small and medium-sized businesses have been put on notice. From 19 June 2026, exactly one month from today, every organisation that handles personal data will, by law, be required to operate a formal complaints process. Those that fail to prepare risk regulatory action, reputational damage and the slow drip of customer trust eroding away.

The new obligations flow from section 103 of the Data (Use and Access) Act 2025, the most significant reshaping of the UK’s data protection landscape since the post-Brexit settlement. And in a clear signal that the Information Commissioner’s Office is anxious to avoid a repeat of the GDPR scramble of 2018, deputy commissioner Emily Keaney has used the four-week countdown to issue a direct appeal to the smaller end of the market.

“There is still plenty of time to act, and the ICO is here to support you,” Ms Keaney said. “We know that smaller organisations are less likely to have formal complaints processes in place, and that is exactly why we have designed this guidance with you in mind.”

What the new law actually requires

For SME owners and finance directors who have not yet digested the detail, the statutory obligations are mercifully short. Under the new regime, every organisation must give individuals a clear and accessible route to raise a data protection complaint, whether by email, online form, telephone or post. Receipt of a complaint must be acknowledged within 30 days. Businesses must then, “without undue delay”, take appropriate steps to investigate, keep the complainant informed of progress, and communicate the outcome.

Crucially, there are no carve-outs. The rules apply to the corner shop with a customer mailing list just as much as to the FTSE 250 financial services firm. Privacy notices will also need updating to make clear that customers have a right to complain directly to the organisation before escalating to the regulator.

Why this matters more than it might look

On paper, the changes appear modest, a tweak to administrative housekeeping rather than the seismic shock that GDPR delivered seven years ago. But seasoned compliance professionals warn that complacency would be a mistake.

For the first time, individuals will have a statutory right to complain directly to the organisation handling their data, and to expect a structured response within a defined timeframe. That changes the calculus on everything from subject access requests to the handling of data breaches. The ICO has indicated that sectors generating the highest volume of complaints, healthcare, financial services, technology and retail, should expect particular scrutiny.

There is also a commercial logic at work. Resolving a grievance quickly and fairly tends to prevent it from metastasising into something more serious, whether a formal regulatory referral or a customer departure. As any SME operator who has watched a one-star Trustpilot review go viral can attest, the cost of getting the response wrong can dwarf the cost of getting the process right. The wider context is one of rising data risk, with the ICO already pressing the technology sector to embed privacy by design into AI products, a sign of how high the regulatory bar is climbing.

The ICO’s olive branch

The regulator’s tone this time is markedly different from the rather schoolmasterly approach that characterised the early GDPR rollout. The guidance, published in February following a public consultation that drew more than 85 responses, is studded with practical examples and worked-through scenarios pitched squarely at smaller firms without dedicated compliance teams.

“A data protection complaint can come from any customer at any time,” Ms Keaney noted. “Having a clear process means you can respond quickly, resolve issues fairly and protect the trust your customers place in you. We are not here to catch businesses out, we are here to help you get ready.”

That conciliatory framing should not, however, be mistaken for indefinite patience. Once the 19 June commencement date passes, the ICO will have the power to take enforcement action against organisations that fail to operate a compliant process, and the line between supportive regulator and active enforcer can move quickly.

A four-week action list

For business owners still unsure where to begin, the practical steps are reasonably straightforward. Decide who inside the business will own the complaints process and ensure they have the authority to investigate and respond. Build a simple, visible route for customers to raise complaints — usually a dedicated email address or web form, signposted in the privacy notice. Document the workflow, including how the 30-day acknowledgement deadline will be met. Train any customer-facing staff on what to do if a complaint lands in their inbox.

Owners who already operate under data protection frameworks will recognise much of this from existing good practice. For a refresher on the broader compliance landscape, our complete guide to GDPR compliance in the UK sets out the foundations, while our explainer on the difference between data controllers and processors is worth bookmarking for any business that shares customer data with third parties.

The bottom line

For Britain’s 5.5 million SMEs, the message from regulators is clear: 19 June is not a target, it is a deadline. The four weeks ahead are not an invitation to delay, but a window to prepare. Done well, the new complaints process is a modest piece of administrative plumbing that can quietly strengthen customer relationships. Done badly, or not at all, it is a regulatory exposure that few small businesses can afford to carry.

The ICO has, unusually, all but rolled out a welcome mat. The smart move for SME owners is to walk through the door before someone else knocks.

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

New York City’s LaGuardia Airport is bringing science fiction to the terminal with the debut of an AI-powered hologram concierge designed to help travelers find gates, lounges and baggage claim through face-to-face conversations.

The digital assistant, nicknamed “Bridget,” was unveiled this week inside Terminal B, where the hologram chats with passengers in real time and helps them navigate the busy area.

Unlike prerecorded holograms used elsewhere for greetings or ads, Bridget responds to travelers’ questions conversationally, offering directions to gates, baggage claim, lounges and shops.

The hologram speaks English and Spanish, with more languages planned, and includes accessibility features such as closed captioning and wheelchair-friendly controls.

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The hologram chats with passengers in real time to help them find gates, lounges, shops and baggage claim in the busy terminal. (Laguardia Gateway Partners / Unknown)

Airport officials say the system is designed to support — not replace — human customer service staff, especially during crowded travel periods.

The AI digital assistant, nicknamed “Bridget,” was unveiled this week inside LaGuardia Airport’s Terminal B. (Laguardia Gateway Partners / Unknown)

“Most people think of airports as stressful and confusing environments, but LaGuardia’s Terminal B leads the world in changing all that,” said David Nussbaum, founder of Proto Hologram, which developed the hologram software.

Nussbaum said the technology will provide a more personalized experience “in ways that feel natural and intuitive,” adding “the future of travel has begun at LaGuardia.”

Proto Hologram developed the hologram. (Laguardia Gateway Partners / Unknown)

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The hologram currently stands near Terminal B’s food hall, with additional units expected to roll out across the terminal’s concourses.

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LaGuardia’s Terminal B has become known for testing new travel technology as airports increasingly look for ways to speed up navigation and reduce passenger frustration.

Operator

Good morning. My name is Tiffany, and I will be your conference operator today. At this time, I would like to welcome everyone to the Avidbank Holdings, Inc. First Quarter 2026 Earnings Conference Call.

Bryan C. Polster

Good morning, everyone, and thank you for being here, and welcome to our 2026 Annual Shareholders Meeting of Avidbank Holdings. And my name is Bryan Polster, I serve as the lead independent Director of the Board of Directors of the Bank.

Also on behalf of the Board of Directors of our company, I’m very pleased that you could be with us today here, in-person, for our meeting. I want to thank you all for all of your active participation, active interest and support of the bank is very meaningful to the organization in total. Thank you for that.

I also want to give a special welcome to any of the people attending virtually. I’d remind everyone that while in attendance virtually from — or the formality of shareholder votes that you will not be able to change any of the votes that have been previously submitted, but for — and normally be considered part of the quorum for legal or quorum purposes. Shareholders participating via the audio conference call will not be able to vote or change any previously submitted votes, and no questions may be submitted through the audio conference call.

It’s my pleasure this morning to introduce the officers of the company and the bank who are present with us today. First of all, I’d like to introduce Mark Mordell, our Chief Executive Officer and Chairman of the Board; Pat Oakes, our Chief Financial Officer; Ms. Gina Thoma-Peterson, our Chief Operating