Global Outlook

 In another shocking revelation, Facebook-parent Meta Platforms announced on Tuesday it would let go 10,000 employees, just four months after it cut 11,000 jobs - becoming the first Big Tech company to declare a second round of mass layoffs. "We expect to ... close around 5,000 additional open roles that we haven't yet hired," Chief Executive Officer Mark Zuckerberg said in a message to staff. The Wall Street Journal reported last Friday on the company planning to cut scores of jobs in multiple rounds over the next few months. Following the report, Meta's shares rose by over 2% in after-hours trading. The WhatsApp owner had laid off 13% of its workforce last November, repeating the moves of numerous tech companies which had announced thousands of job cuts blaming the economic downturn. And in February this year, Meta revealed that it expects its 2023 expenses at between $89 billion and $95 billion, with the CEO describing the period as a "Year of Efficiency...