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Meta to Cut 10,000 More Jobs and Incur Restructuring Costs Up to $5 Billion, CEO Mark Zuckerberg Warns of Economic Instability for “Many Years

Meta, the parent company of Facebook, announced Tuesday that it will lay off 10,000 more workers and incur restructuring costs ranging from $3 billion to $5 billion. CEO Mark Zuckerberg warned that economic instability due to the pandemic could continue for “many years.” The job cuts are expected to help the company remain financially stable, and will take place “over the next couple of months.”