Business

Meta Layoffs and European Oil Shortages

Updated 2026-05-18 12:20 UTC 1 source Negative

Meta is initiating layoffs with 8,000 jobs expected to be cut. Strategists warn of potential European oil shortages due to Iran’s reduced oil exports.

Coverage timeline — 2 articles

CNBC

Meta layoffs starting this week stress harsh AI reality inside Zuckerberg’s company

Meta is starting layoffs this week, with 8,000 jobs expected to be cut, as employees brace for a new era of AI.

2026-05-18 12:00 UTC

CNBC

‘This is bad’: Strategists see European oil shortages within weeks as inventories are depleted

The Iran war oil squeeze could trigger shortages in Europe within weeks, and keep global inventories depleted until 2027, strategists warn.

2026-05-18 12:07 UTC