Trump Defends Economic Record in North Carolina as Midterm Election Pressure Mounts 
China Keeps Benchmark Lending Rates Steady as Economic Outlook Remains Cautious 
China’s Power Market Revamp Fuels Global Boom in Energy Storage Batteries 
Japan Signals Possible Yen Intervention as Currency Weakens Despite BOJ Rate Hike 
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
Gold Prices Surge to Record Highs as Geopolitical Tensions Fuel Safe-Haven Demand 
Wall Street Ends Higher as S&P 500, Nasdaq Extend Gains Ahead of Holiday Week 
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
U.S. Dollar Slips as Yen Finds Support on Intervention Signals and Geopolitical Risks Rise 
Russia Stocks End Flat as Energy Shares Support MOEX Index 
Platinum Price Surges Past $2,000 as Demand and Supply Dynamics Tighten 
Kevin Hassett Says Inflation Is Below Target, Backs Trump’s Call for Rate Cuts 
Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
EU Approves €90 Billion Ukraine Aid as Frozen Russian Asset Plan Stalls 
Silver Prices Hit Record High as Geopolitical Tensions Fuel Safe-Haven Demand 
Oil Prices Ease in Asia as Geopolitical Risks Clash With Weak Demand Outlook 
South Korea Central Bank Warns of Rising Financial Stability Risks Amid Won Volatility 
Meta Begins Layoffs in WhatsApp, Instagram, and Reality Labs Amid Reorganization
Meta Platforms Inc., the parent company of Facebook, has started laying off employees across key departments, including WhatsApp, Instagram, and Reality Labs. This development was reported by The Verge on Wednesday, citing internal sources and social media posts from affected employees.
Internal Restructuring, Not a Mass Layoff
According to the report, the layoffs are part of an internal team reorganization, rather than a company-wide reduction. Meta has already slashed over 20,000 jobs over the past two years, including significant cuts of 11,000 roles in 2022 and an additional 10,000 in 2023. The ongoing reductions reflect Meta’s efforts to streamline operations and refocus after its post-pandemic growth slowed.
Reality Labs Targeted Again
This isn't the first time Meta's Reality Labs, the division responsible for its virtual and augmented reality efforts, has faced cuts. Earlier this year, the company reduced its headcount in this division, signaling a shift in priorities as it scales down certain operations.
Conclusion
Meta’s ongoing layoffs reflect its broader strategy to optimize its workforce and streamline operations following significant cuts in 2022 and 2023. The company’s internal reorganization efforts may lead to further changes as it continues to adapt to market conditions.
