Facebook’s parent Meta prepares to slash thousands of jobs – reports

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

Facebook's parent company, Meta, is reportedly preparing to cut thousands of jobs after $80bn (69bn) was wiped off its market value last month amid the global economic downturn.

On Sunday the Wall Street Journal reported that the cuts, to be announced on Wednesday, were expected to affect thousands of Meta's 87,000 employees globally.