Meta confirmed it will implement layoffs across multiple divisions as part of cost-cutting measures. The company has not disclosed the headcount affected but said the reductions will align resources with long-term strategic priorities. A federal jury found that Meta violated user privacy protections and ordered the company to pay $6 million in damages. The verdict stems from a class-action suit alleging unauthorized data sharing linked to targeted advertising practices. Cathie Wood's ARK Investment trimmed its Meta stake, reallocating capital into another AI-focused stock. The high-profile institutional selling added downward momentum to Meta shares, which were already pressured by the legal ruling and workforce cuts.