Meta Stock Is Up on Layoff Announcement. Should Investors Be Selling Instead?
Beware the value trap. Meta has become a turnaround story, and a compelling one.
Stay updated with breaking news from Reality Lab. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Beware the value trap. Meta has become a turnaround story, and a compelling one.
More than 11,000 workers at Meta will lose their jobs, the technology company has announced, including some staff working in its VR team Reality Labs.
Meta is slashing 13% of its total workforce. The Facebook parent company is also reportedly implementing additional cost-cutting measures.
Beware the value trap. Meta has become a turnaround story, and a compelling one.
Facebook has been investing staggering sums in “the metaverse,” the virtual reality wonderland that Mark Zuckerberg says is the future of human connection. It’s burning billions on a party that nobody wants to attend.