TG: China’s plan to boost flagging growth is the very definition of economic insanity
THE GUARDIAN writes: China’s leaders seem to have invoked the definition of insanity, attributed, perhaps wrongly, ...
THE GUARDIAN reports:
Facebook’s parent company, Meta, is reportedly preparing to cut thousands of jobs after $80bn (£69bn) was wiped off its market value last month amid the global economic downturn.
On Sunday the Wall Street Journal reported that the cuts, to be announced on Wednesday, were expected to affect thousands of Meta’s 87,000 employees globally.
Meta declined to confirm the report but a spokesperson pointed to comments made by the Meta chief executive, Mark Zuckerberg, late last month.
“In 2023, we’re going to focus our investments on a small number of high-priority growth areas,” he said. “So that means some teams will grow meaningfully, but most other teams will stay flat or shrink over the next year…
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