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Meta may be next Silicon Valley tech company to announce mass layoffs, sources say

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A new report says the Menlo Park-based giant is expected to announce large-scale layoffs sometime this week.

The Wall Street Journal cites close sources that say the announcement could be handed out as soon as Wednesday.The layoffs are expected to affect many thousands of Meta employees. It's unclear what percentage of its overall workforce.

Meta's stock has fallen more than 70% this year.
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