💰 Facebook-parent Meta to lay off 10,000 employees in second round of job cuts

TL;DR

Meta shares jumped 6% on the news. On top of inflation woes, the company is also facing down unique threats to its core digital ads business while spending handsomely on Chief Executive Mark Zuckerberg's plans to build a futuristic metaverse. "Meta has teased AI-powered "creative aids" that can generate images, videos and text but has yet to offer any such products on its apps, even as peers have launched dueling generative AI chatbots and productivity tools in recent months

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