MARKETWATCH - Meta is cutting 21K jobs as part of its "Year of Efficiency" initiative amid a downturn in digital advertising. The latest round of layoffs, which involves technical positions, is happening a week before the company announces fiscal Q1 results on Apr 26. The number of jobs being eliminated in this round is estimated to be ~4K people. Another round of layoffs is scheduled for May. META's shares were flat during early afternoon trading on Wed, despite an 80% increase this year.
by Jon Swartz
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