Meta Platforms, Inc. has announced the layoff of over 11,000 employees—about 13% of its workforce—amid stark financial pressures from its metaverse investments, which incurred losses exceeding $9.4 billion. The company's stock has plummeted more than 65% this year, with recent reports indicating a quarterly decline of 4% in sales and increased expenses. As Meta grapples with these setbacks, CEO Mark Zuckerberg remains committed to future investments despite significant challenges in the digital advertising landscape.
“Meta Platforms · is the parent of · Facebook · NASDAQ: META”
“Meta Platforms, Inc. (NASDAQ:META) · has a stake value of · over $356 million · as of 9/30”
“Meta Platforms (NASDAQ:META) · is · down more than 65% YTD · due to spending on the metaverse project”
“Meta Platforms · lost · a little above $9.4 billion from Reality Labs · true”
“Meta Platforms, Inc. (NASDAQ:META) · is a · technology conglomerate · headquartered in Menlo Park, California”
“Meta Platforms, Inc. (NASDAQ:META) · stock closed at · $113.23 · per share on November 16, 2022”
“Meta Platforms, Inc. (NASDAQ:META) · lost · 65.64% of their value · over the last 52 weeks”
“ClearBridge Investments · commented about · Meta Platforms, Inc. (NASDAQ:META) · initiated a new position in communication services sector”
“177 hedge fund portfolios · held · Meta Platforms, Inc. (NASDAQ:META) · at the end of the third quarter”
“Meta Platforms, Inc. (NASDAQ:META) · was in · 4th position · on the list of 30 Most Popular Stocks Among Hedge Funds”
“Meta Platforms · laid off · workers · 11000”
“Meta Platforms · reduced · staff · 13%”
