the Wall Street Journal Y New York Times reported Sunday that the Facebook and Instagram parent company will cut its workforce of 87,300 sometime this week, the company’s first round of widespread layoffs since its founding nearly two decades ago. None of the news outlets published a precise number of projected job losses, although the Daily he said they will total “many thousands of employees.”

By now, the layoffs should come as little surprise.

Meta CEO Mark Zuckerberg has warned in recent months that his company would need to reduce its expenses and headcount, citing largely the stagnating global economy and slowing growth in ad spending….