Meta Platforms, Inc. (NASDAQ:META) is one of the Good Stocks to Buy Now. According to a recent March 25 report by Reuters, Meta Platforms, Inc. (NASDAQ:META) is expected to lay off a few hundred people across various teams.
Earlier in March, Reuters had reported that the company was planning to lay off employees, which could affect around 20% or more of the company’s total workforce. The report noted that the March 25 lay-offs are on a much smaller scale compared to the earlier report. A separate report by The Information suggests that the lay-offs could impact the company’s Reality Labs division, social media teams, and recruiting operations.
A spokesperson of Meta told Reuters that these changes in structure are to ensure that the company is in the best position to achieve its goals. This step is seen as a measure to offset the rising costs as the company is expected to spend around $162 billion to $169 billion in 2026. As of December 31, the company had around 79,000 employees.
Meta Platforms, Inc. (NASDAQ:META) is a California-based company that develops social media applications. Dedicated to connecting people and growing businesses, the company has two segments: Family of Apps (FoA) and Reality Labs (RL).
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