Top 5 Reddit Stocks That Will Skyrocket

4. Meta Platforms, Inc. (NASDAQ:META)

Upside Potential as of April 17: 40.2%

On April 17, Reuters reported that Meta Platforms, Inc. (NASDAQ:META) is preparing to begin a new round of layoffs on May 20, with more cuts likely to follow later in the year. The report cited three sources familiar with the plans.

In the first phase, the company is expected to reduce about 10% of its global workforce, or close to 8,000 employees, according to one source. Additional layoffs are being discussed for the second half of the year. The timing and size are still unclear. The sources said plans could shift depending on how artificial intelligence capabilities develop in the coming months.

A month earlier, Reuters reported that the company had been considering cuts of 20% or more. Meta did not comment on the timing or scope of the planned layoffs. CEO Mark Zuckerberg continues to invest heavily in AI, committing large sums as he works to reshape the company around the technology. Similar moves have been seen across the US tech sector this year. If carried out, these layoffs would be the company’s largest since the restructuring in late 2022 and early 2023, which it called the “year of efficiency.” Around 21,000 roles were cut during that period, when the company was dealing with a sharp drop in its stock and adjusting to growth expectations formed during the pandemic.

The company is in a more stable financial position now. Even so, management is moving toward a structure with fewer layers and more efficiency, with AI playing a larger role in daily operations.

Meta Platforms, Inc. (NASDAQ:META) builds tools that help people connect and businesses grow. Its core apps include Facebook, Instagram, Messenger, and WhatsApp. It also develops hardware products such as Meta Quest VR headsets and Ray-Ban Meta AI smart glasses.