Facebook owner Meta Platforms ( META ) reportedly is planning another round of layoffs that will cut thousands of employees as soon as this week. Meta stock climbed on the news. The company looks to have the layoff plan ready before Chief Executive Mark Zuckerberg goes on parental leave for his third child, Bloomberg reported . It would be the second major round of layoffs at Meta. In November, Meta cut 11,000 employees, or 13% of its workforce. The Bloomberg report said Meta expects to cut "thousands," but did not give a specific number. Meta Stock Climbs On Layoff News In morning trades on the stock market today , Meta stock rose 1.2% to 187.04. Meta stock has doubled since early November when the company announced its first round of layoffs. At the time, Zuckerberg vowed to make 2023 a "year of efficiency" for the beleaguered social media giant. Meta stock soared as the company also announced $40 billion in new share repurchases. As of Feb. 27, more than 120,000 tech employees have lost their jobs in 2023, Roger Lee, founder of Layoffs.fyi , said in an interview with IBD last week. Layoffs.fyi tracks layoffs in the tech sector. […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
