Massive Meta Platforms Layoffs Could Be Coming. Why Did META Stock Gain on the News?

According to a Reuters report, social media giant Meta Platforms (META) is planning to cut a significant portion of its workforce. The stock climbed on news of the company’s alleged plans to reduce its headcount by over 20%, suggesting Meta is trying to balance its planned high spending on artificial intelligence (AI). Meta anticipates 2026 capital expenditures, including principal payments on finance leases, to range between $115 billion and $135 billion, roughly double its 2025 spending. This increase ...