The Latest Breaking News on Tech

Layoffs come after $80bn wiped off company’s market value last month amid global economic downturn

Meta Platforms Inc. is planning to begin layoffs this week that will affect thousands of workers, The Wall Street Journal reported, citing people with knowledge of the matter.

The e-commerce giant is weakened by the economic slowdown.

Facebook may not be the original social media platform but it has stood the test of time – until recently. Meta, the company that owns Facebook, Instagram and WhatsApp, saw its value plummet by around $80 billion (£69 billion) in just one day at the end of October, after its…

Gold futures traded sharply higher this morning on Friday. Investors, meanwhile, focused on some notable insider trades.

Meta stock is the worst performer in the S&P 500 this year. Option traders can use a bear put spread to bet on further weakness.

“I’d like to express my sympathy to those people who are going to get bad news today"

Investors pummeled software stocks Atlassian, Twilio and Cloudflare for issuing weak guidance amid expectations the economy will slow.

The Meta-Wire affair, as it has come to be called, has thrown up many questions that touch on editorial processes, the survival of independent media, and the response of the state to criticism.