Meta stock

Facebook parent company Meta will lay off another 10,000 employees, the company's billionaire CEO Mark Zuckerberg announced Tuesday, the second-such massive ...

At an all-hands meeting following the November cuts, Zuckerberg said the firings “minimize[d] [according](https://www.washingtonpost.com/technology/2023/02/22/meta-layoffs/)to the Post. [reported](https://www.washingtonpost.com/technology/2023/02/22/meta-layoffs/) last month Meta was preparing to lay off thousands of more employees, while the Wall Street Journal [reported](https://www.wsj.com/articles/facebook-parent-plans-new-job-cuts-that-could-match-last-years-tally-2d5b256c?mod=hp_lead_pos1) last week the fresh round of firings could match November’s in scale. [Meta Stock Climbs After Reports Of More Layoffs–Here’s Why](https://www.forbes.com/sites/brianbushard/2023/03/07/meta-stock-climbs-after-reports-of-more-layoffsheres-why/?sh=37feed5a4f52) [2023 Layoff Tracker: Meta Planning Another Large Round Of Cuts This Week, Reports Say](https://www.forbes.com/sites/brianbushard/2023/03/13/2023-layoff-tracker-meta-planning-another-large-round-of-cuts-this-week-report-says/?sh=212e7900760b) [Meta Stock Notches Best Day In 10 Years](https://www.forbes.com/sites/dereksaul/2023/02/02/meta-stock-on-pace-for-best-day-in-10-years/?sh=333f6cb9257e) (Forbes) [How To Bounce Back After Being Laid Off — Introducing Layoff Lifeline, A Weeklong Email Series](https://www.forbes.com/newsletter/layoff-lifeline/#7f33f7a4585d) (Forbes) [follows](https://about.fb.com/news/2022/11/mark-zuckerberg-layoff-message-to-employees/) the company’s firing of 11,000 employees in November. [announced](https://about.fb.com/news/2023/03/mark-zuckerberg-meta-year-of-efficiency/) Tuesday, the second-such massive round of layoffs as the company drastically cuts costs. Shares of the Silicon Valley firm rallied more than 6% as of 12 ET, as Wall Street continued to cheer on Meta’s commitment to trim costs and improve its bottom line.

The tech industry has laid off more than 280000 workers since the start of 2022, with about 40 per cent of them coming this year, according to layoffs ...

Meta’s move in November to slash headcount by 13 per cent marked the first mass layoffs in its 18-year history. The news sent Meta’s shares up two per cent in premarket trading. The move underscores Zuckerberg’s push to turn 2023 into the “Year of Efficiency” with promised cost cuts of US$5 billion in expenses to between US$89 billion and US$95 billion.

Meta is cutting more jobs after warning the 'new economic reality' may be here to stay for years to come.

The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. The immediate upside goal is to break above the closing high of $191.62 we saw in February, with the stock having already tested this level in early trade today. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Some analysts have called on Meta to scale-back or even abandon its costly metaverse ambitions in order to focus on its core advertising business that is going through one of the toughest times on record. It is also continuing to pull the rug from under low priority projects and reallocating useful resources to other parts of the business. This work is incredibly important and the stakes are high. So we put together a financial plan that enables us to invest heavily in the future while also delivering sustainable results as long as we run every team more efficiently. This helps install confidence that it can weather the storm and bounce back in better condition when the recovery eventually comes. Meta, the owner of social media platforms Facebook and Instagram, has announced it plans to cut another 10,000 jobs over the coming weeks and months. Still, Meta has signaled that its workforce could start to grow again after it said it would ‘lift hiring and transfer freezes’ once these job cuts are completed. We saw Meta’s workforce more than double in size between the start of the pandemic and the end of 2022, as demonstrated by the chart below.

Meta stock jumped Tuesday as the Facebook parent and social media giant announced it would cut about 10000 jobs over the next few months.

"As of today, we expect our full-year 2023 total expenses to be in the range of $86 billion to $92 billion," Meta said. Like other social media companies, Meta stock has been hit hard by a sharp slowdown in advertising, where the company gets the vast majority of its revenue. Check Out Our IBD Live Daily Segment](https://shop.investors.com/offer/splashresponsive.aspx?id=IBD-Live&intcode=invstcntnartcls%7Ccms%7Cibdlive%7C2020%7C07%7Cibdlive%7Cna%7C%7C727112&src=A00433A) The company is striving to make its organization flatter by removing multiple layers of management, Zuckerberg said in the email. Meta stock surged on the news. Combined with the 11,000 employees laid off since November, Meta will have cut 21,000 jobs.

Meta stock has barreled up more than 60% in 2023. Here's what the charts say is next for the best-performing FAANG stock of 2023.

Meta stock has barreled up more than 60% in 2023. Here's what the charts say is next for the best-performing FAANG stock of 2023.