If Meta is preparing large-scale layoffs this week, would we see a dip in the overall market?

According to The Wall Street Journal's news on 6 Nov 2022, Meta seems to be preparing for large-scale layoffs this week. The number of layoffs is said to be in the thousands. Signs are there to suggest that the company is confronting challenges from companies like TikTok in the space they operate in.

Currently, the S&P 500 seems to be on a slight rebound. But it will be interesting to watch how the overall market will react when further news on the Meta layoff is confirmed.

On the other hand, Meta price is looking depressed at the moment.

Certainly a period to be watchful about.

P/S: This is not financial advice, and please do your own due diligence before investing.

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