Meta’s reported cost cutting could save $5 billion, according to Morgan Stanley
With user growth slowing due to intense competition from TikTok and a more focused Mark Zuckerberg, the layoff axe may be about to swing at Meta as it looks to jump-start its sagging stock price.
The social media giant is planning to slash expenses by at least 10% in the coming months, according to a new report from The Wall Street Journal. Meta has already begun the process, WSJ reports, by pushing out staffers during departmental re-shufflings.
Meta didn’t return Yahoo Finance’s request for…