Meta Platforms plans to eliminate an additional 10,000 jobs following earlier layoffs of 21,000 as it navigates rising costs and a potential decline in advertising revenue. Despite recent stock appreciation of 65% over the last three months, the company is also halting bonus payouts and updating performance review processes to streamline operations. This comes alongside similar downsizing strategies by tech giants like Alphabet and Amazon to reduce office space in response to changing market conditions.
“Meta Platforms · up over · 70% · true”
“Alphabet Inc., Meta Platforms Inc., Microsoft Corp. and Amazon.com Inc. · announced plans to · reduce their office footprint”
“Alphabet, Meta, Netflix Inc., Salesforce Inc. and a few other publicly traded tech companies · have earmarked · as much as $3.4 billion · to cover costs for buildings they no longer need”
“Meta Platforms · up · this year · over 70%”
“Facebook parent Meta Platforms · threatened · to remove news · if Congress had approved the journalism competition measure”
“Meta Platforms · up · this year · over 70%”
“Meta Platforms · is the largest social media company in the world”
“Meta Platforms · has laid off · 21,000 workers · in 2023”
“Meta Platforms · has stock price drop from all-time-high · 48%”
“Meta · is weighing · political ad ban · company-wide in Europe”
“Meta Platforms, Inc · is weighing · a company-wide ban on political advertising · in Europe”
“Meta · earned · under $800 million in revenue from political advertising in the U.S. · between 2019 and 2020”
