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Dec 5, 2025 4:00 PM

Meta Cuts Jobs, Mark Zuckerberg Gets Richer: Wall Street Applauds Move

Shares of Meta Platforms Inc (NASDAQ:META) climbed higher Thursday after the company announced job cuts. With shares trading higher, Meta CEO and co-founder Mark Zuckerberg also saw his wealth soar, potentially at the expense of some of his company's employees.

Meta Stock Gains, Zuckerberg's Wealth Moves Higher

Meta stock closed Wednesday at $661.53 and opened for trading Thursday at $664.50. The stock hit an intraday high of $676.10 before closing at $673.07, up 1.7%. Meta shares are also trading higher on Friday, potentially due to the news.

A report Thursday said Meta could conduct layoffs as early as January, with budget cuts of around 30% planned for the company's metaverse group.

The company's metaverse unit has lost more than $70 billion since 2021. Once a key focus ...