Meta shares up on report it’s set to begin mass layoffs

TL;DR

- Shares of Facebook owner Meta rose Monday following a Wall Street Journal report over the weekend saying the company could start mass layoffs as soon as Wednesday.- CEO Mark Zuckerberg said on the company's last earnings call that by the end of 2023, the company expects to be "roughly the same size, or even a slightly smaller organization than we are today."Shares of Facebook owner Meta rose 6.5% Monday following a Wall Street Journal report over the weekend saying the company could start mass layoffs as soon as Wednesday."In 2023, we're going to focus our investments on a small number of high priority growth areas," Zuckerberg said at the time.The company has seen its stock fall 72% this year as it's tried to launch a new strategy focused on building the metaverse."

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