Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs.
FILE - Meta's logo can be seen on a sign at the company's headquarters in Menlo Park, Calif., Nov. 9, 2022. Meta, which is Facebook's parent company, allowed a Moldovan oligarch with ties to the Kremlin to run ads on its platform urging protests against that country's government — even though he and his political party are subject to U.S. sanctions.
Early last month, Meta posted falling profits and its third consecutive quarter of declining revenue. On the same day, the company said that it would buy back as much as $40 billion of its own stock. Zuckerberg has invested tens of billions of dollars building out its metaverse, its virutal reality concept, and renamed the company Meta, signaling a new focus for Facebook.
Global inflation has remained stubborn and its made for more difficult decisions for both households and businesses in the U.S.
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