Business

Meta lays off staff amid cost cutbacks and competition with TikTok

By Christopher Hutton
Published September 22, 2022 8:48pm ET
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Meta lays off staff amid cost cutbacks and competition with TikTok
A Facebook employee take a selfie in front the company's new name and logo outside its headquarters in Menlo Park, California. | (AP Photo/Tony Avelar)

Meta is taking actions to cut expenses by at least 10%, including through staff reductions, amid efforts to compete with TikTok.

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