Meta cuts 11,000 jobs as it sinks more money into the metaverse
Source: Reuters
Nov 9 (Reuters) - Meta Platforms Inc (META.O) said on Wednesday it would cut more than 11,000 jobs, or 13% of its workforce, as the Facebook parent doubled down on its risky metaverse bet amid a crumbling advertising market and decades-high inflation.The mass layoffs, among the biggest this year and the first in Meta's 18-year history, follow thousands of job cuts at other tech companies including Elon Musk-owned…
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