amazonupdate
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*March 16 (Monday) Financial News*
*On Monday, major Wall Street indices are expected to open higher, with Meta shares leading the gains, following reports that the tech giant is preparing for large-scale AI-related layoffs, although high oil prices driven by the ongoing conflict in the Middle East are dampening risk appetite.*
*Meta < META.O Reuters reported that the company plans to cut 20% or more of its workforce to offset costly investments in AI infrastructure and prepare for the increased efficiency brought by AI-assisted employees. On the news, the company’s stock rose 3.2% in premarket trading.*
*The parent company of Instagram also issued a similar statement, echoing that of Amazon (AMZN.O).*
#metaupdate $METAon
#amazonupdate $AMZN
*On Monday, major Wall Street indices are expected to open higher, with Meta shares leading the gains, following reports that the tech giant is preparing for large-scale AI-related layoffs, although high oil prices driven by the ongoing conflict in the Middle East are dampening risk appetite.*
*Meta < META.O Reuters reported that the company plans to cut 20% or more of its workforce to offset costly investments in AI infrastructure and prepare for the increased efficiency brought by AI-assisted employees. On the news, the company’s stock rose 3.2% in premarket trading.*
*The parent company of Instagram also issued a similar statement, echoing that of Amazon (AMZN.O).*
#metaupdate $METAon
#amazonupdate $AMZN
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