Wall Street is not rewarding META that much ($113 per share only??). As more layoff details are known, it looks like the staff cutting was more "peripheral" than strategic. How many of the 11k that were let go were related Metaverse or Infra (Data Center Development)? If there are no CAPEX or Metaverse adjustments (and soon), brace yourself for another zero gravity drop in a few weeks, followed by another reaction from Meta (more layoffs)
There will be no mercy from competitors, who are capitalizing big time from this self induced mess.
This will be a new company folks, the broken accountability culture and the nepotism exhibited by celebrities wannabes (Managers & Directors) have taken this company to the sewer.