Meta Stock Rises After Report of More Layoffs

Shares of Facebook-parent


Meta Platforms


were rising Tuesday after a report said the company will cut more jobs than previously announced.



Meta


(ticker: META) is planning another round of layoffs as soon as this week, Bloomberg reported, citing unidentified people familiar with the matter. That comes on top of the 13% workforce reduction from November, equivalent to some 11,000 employees.

Source: https://www.barrons.com/articles/meta-stock-layoffs-job-cuts-zuckerberg-facebook-f7f43f3d?siteid=yhoof2&yptr=yahoo