Meta to cut 10,000 jobs in second round of layoffs

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Reuters

(Reuters) -Facebook-parent Meta Platforms said on Tuesday it would cut 10,000 jobs, the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn. Meta shares jumped 6% on the news. The widely anticipated job cuts are part of a wider restructuring that will also see the company scrap hiring plans for 5,000 openings, cancel lower-priority projects and flatten layers of middle management. “I think we should prepare ourselves for the possibility that this new economic reality will continue for many years,” Chief Executive Mark Zuckerberg…

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