The Daily Chase: Meta layoff 11,000 employees, Rogers misses Q3 expectations
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U.S. equity market futures are fluctuating between gains and losses in the wake of U.S. midterm elections delivering a decidedly mixed result.
ZUCKERBERG ‘SORRY’ AS META SLASHES 11,000 JOBS
Those job cuts account for about 13 per cent of the social media giant’s workforce – the first major round of layoffs in the company’s history, a move Chief Executive Officer, Mark Zuckerberg, says he’s “especially sorry” for. The parent company of Facebook says the cuts will be widespread, though it did note the recruiting team will be disproportionately impacted (though this seems somewhat obvious – recruiting is not exactly a priority when you’re cutting thousands of positions.) Meta says it will also reduce its real estate footprint and review its infrastructure spending.
ROGERS POSTS THIRD QUARTER PROFIT MISS
