Meta shares pop 7% as Wall Street rallies around layoffs

I am a gray/grey beard and have seen this cycle time and time before and it boils down to this - Mega-Corp announces lay-offs which means a short-term profit gain over the next few quarters.

Hedge funds hop on the rise because why not? and the mega rich throw their weight behind it to bolster their own head-count reduction drive because after all, what looks better on your CV when jumping a sinking ship than saying something like 'I drove a profitability increase of X%' with scant regard for the fall-out afterwards once the systems and staff are driven in to the ground especially when other companies are trying to increase revenues during a down turn and are desperately seeking Cxx people to come up with ideas.

Time and time again, rinse and repeat. I honestly can’t understand why people fall for this play again and again. It’s almost as if those old enough either develop amnesia or have committed suicide so that the collective wisdom is forgotten.

oof, still has a metaverse problem that won't go away