Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Asian Stocks Fall as Oil Tops $100, Yields Rise 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Oil Prices Hold Near Highs as U.S.-Iran Conflict Escalates 
Asian Stocks Mixed as Korean Chipmakers Rally 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
German Inflation Accelerates to 2.9% in August 
U.S. Stock Futures Steady as Oil Tops $100 Ahead of Inflation Data 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
South Korea GDP Surges on Chip and AI Boom 
China Buys 1 Million Tons of U.S. Soybeans Ahead of Xi Visit 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Gold Prices Rise as Yen Rally Weakens Dollar 
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Meta Begins Layoffs in WhatsApp, Instagram, and Reality Labs Amid Reorganization
Meta Platforms Inc., the parent company of Facebook, has started laying off employees across key departments, including WhatsApp, Instagram, and Reality Labs. This development was reported by The Verge on Wednesday, citing internal sources and social media posts from affected employees.
Internal Restructuring, Not a Mass Layoff
According to the report, the layoffs are part of an internal team reorganization, rather than a company-wide reduction. Meta has already slashed over 20,000 jobs over the past two years, including significant cuts of 11,000 roles in 2022 and an additional 10,000 in 2023. The ongoing reductions reflect Meta’s efforts to streamline operations and refocus after its post-pandemic growth slowed.
Reality Labs Targeted Again
This isn't the first time Meta's Reality Labs, the division responsible for its virtual and augmented reality efforts, has faced cuts. Earlier this year, the company reduced its headcount in this division, signaling a shift in priorities as it scales down certain operations.
Conclusion
Meta’s ongoing layoffs reflect its broader strategy to optimize its workforce and streamline operations following significant cuts in 2022 and 2023. The company’s internal reorganization efforts may lead to further changes as it continues to adapt to market conditions.
