:Facebook-parent Meta Platforms Inc is planning a fresh round of job cuts in a reorganization and downsizing effort that could affect thousands of workers, the Washington Post reported on Wednesday. The company did not immediately respond to a Reuters request for comment. Last year, the social media gi
:Facebook-parent Meta Platforms Inc is planning a fresh round of job cuts in a reorganization and downsizing effort that could affect thousands of workers, the Washington Post reported on Wednesday.Last year, the social media giant said it will let go of 13 per cent of its workforce, or more than 11,000 employees, as it grappled with soaring costs and a weak advertising market.
Last year's layoffs were the first in Meta's 18-year history. Other tech companies have cut thousands of jobs, including Google parent Alphabet, Microsoft Corp and Snap Inc. Meta, once worth more than $1 trillion, is now valued at $446 billion. Shares lost 1.2 per cent on Wednesday.
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