Money

Meta is reportedly preparing to slash thousands of jobs

Published

3 years ago

November 7, 2022

William Howard

Facebook’s parent company, Meta is reportedly preparing to slash thousands of jobs as the company struggles with declining advertising revenue

The layoffs are expected to be announced as soon as Wednesday.

Meta has more than 87,000 employees, as company officials advise their staff to cancel all nonessential travel.

Globally, the tech sector is struggling.

The cuts come just days after Twitter boss Elon Musk revealed his plans to halve the workforce at his newly-purchased company.

Payment services company Stripe has also confirmed it will lay off 14 per cent of its headcount, which is around 1,000 people.

Shares in Meta fell by more than a fifth back on October 27 when the company missed its quarterly earnings expectations.

At the time, CEO Mark Zuckerberg said his company is “approaching 2023 with a focus on prioritisation and efficiency that will help navigate the current environment and emerge even stronger”.

“While we face near-term challenges on revenue, the fundamentals are there for a return to stronger revenue growth.”
“We’re approaching 2023 with a focus on prioritisation and efficiency that will help us navigate the current environment and emerge an even stronger company.”
MARK ZUCKERBERG, CEO

Related Topics:Business Featured Politics trending

Up Next

FCC Commissioner calls for TikTok ban

Don't Miss

Millions of Australians caught up in major data breach

William Howard

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

Money

US dollar strength hits NZ dollar amid FX market shifts

US dollar rises amid strong US growth; New Zealand faces pressure as traders navigate volatile FX and geopolitical impacts.

Published

15 hours ago

February 20, 2026

Harvey Vargas

US dollar rises amid strong US growth; New Zealand faces pressure as traders navigate volatile FX and geopolitical impacts.

The US dollar is surging as strong economic growth in the United States contrasts with softer conditions in New Zealand. Policy divergence and complex global FX factors are putting pressure on the New Zealand dollar, leaving traders navigating choppy waters.

Steve Gopalan from SkandaFX breaks down how US interest rates are influencing key currency pairs like USD/JPY, and explains why hedging flows are crucial in today’s volatile environment.

We also explore the ripple effects of geopolitical tensions on oil and broader markets, while examining the Australian labour market’s role in shaping the Reserve Bank of Australia’s monetary policy.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

Money

Oil hits seven-month high, and gold surpasses $5,000 amid US-Iran tensions

Oil prices hit seven-month high amid U.S.-Iran tensions; experts analyze impacts on global economy and energy markets.

Published

16 hours ago

February 20, 2026

Harvey Vargas

Oil prices hit seven-month high amid U.S.-Iran tensions; experts analyze impacts on global economy and energy markets.

Oil prices have surged to a seven-month high as escalating tensions between the U.S. and Iran spark fears of global supply disruptions. The Strait of Hormuz remains a flashpoint, with analysts closely monitoring potential military actions that could further strain energy markets.

Investors are reacting to geopolitical uncertainty, with oil markets pricing in heightened risk.

Kyle Rodda from Capital.com joins us to discuss what is driving these record-breaking price movements and the potential implications for the global economy.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

Money

Australia jobs, market trends, and tariff ruling: What investors need to know

Australia’s jobs report shapes rate forecasts, with cyclical assets favored amid market volatility and upcoming Supreme Court rulings on tariffs.

Published

2 days ago

February 19, 2026

Harvey Vargas

Australia’s jobs report shapes rate forecasts, with cyclical assets favored amid market volatility and upcoming Supreme Court rulings on tariffs.

Australia’s latest jobs report is shaping market expectations and interest rate forecasts. Strong employment growth could boost confidence in the economy, while weaker data might prompt a rethink of monetary policy.

Investors are favouring cyclical assets over growth stocks, targeting sectors like industrials, materials, and energy. David Scutt from StoneX notes this reflects both caution amid market volatility and a bet on areas tied to economic cycles.

Meanwhile, the upcoming Supreme Court ruling on Trump’s reciprocal tariffs could significantly impact markets, yet many are overlooking its potential effects on trade, commodity prices, and sector valuations. Investors should prepare for possible volatility and adjust strategies accordingly.

#AustraliaJobs #InterestRates #CyclicalAssets #GrowthStocks #MarketInsights #TrumpTariffs #InvestorTrends #TickerNews