Filing: Meta slashes expenses on reduced hiring and capex investments

Meta’s body blow layoff announcement will see the parent of Facebook, Instagram and WhatsApp making its first-ever major layoffs as a company, cutting 11,000 employees, 13% of its total; predictably investors are responding favorably, bumping the stock up by over 5% in pre-market trading. While the dust settles and we start to get an idea of how specific departments, products and regions are being impacted, Meta’s also released some updated financials for 2023 that detail billions shaved off of its expenses estimates on the back of reduced hiring and less capex spending in areas li

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