Meta stock rises as Facebook's parent company apparently anticipates major layoffs.

Meta shares rose more than 3% early Monday after the Wall Street Journal reported thousands of job cutbacks by Wednesday.

As inflation soars and the Fed tightens, corporations are slashing payrolls. Meta joins Twitter, Amazon, Stripe, and Lyft in announcing layoffs.

According to the Journal, Meta will lay off a lesser proportion of employees than Twitter did in the last week.

But it may still be the highest number of job layoffs at a major digital business to date and the corporation's first mass layoff in 18 years.

Mark Zuckerberg indicated on Meta's October 26 earnings conference that the social media platform would invest in "a few high-priority growth areas."

Meta stock is down 72% in 2022. Facebook's market value has plunged by over $500 billion this year, and Zuckerberg has lost 60% of his net wealth.

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