Meta, which began its maiden round of job cuts -- the first in company history -- late last year, said Tuesday that it would reduce its global headcount by 10,000 and close out an additional 5,000 roles that are currently being advertised but haven't yet been filled. Meta, the parent company of Facebook, Instagram and WhatsApp, posted softer-than-expected fourth quarter earnings of $1.76 per share, well shy of the Street's $2.22 forecast, thanks in part to a $4.2 billion charge linked to last year's massive layoffs and office closures. The group's focus on cost-cutting -- and multiple references to 'efficiency' in the fourth quarter earnings call -- has earned Meta host of upgrades and price target boosts from Wall Street as the broader digital ad industry faces a pullback in corporate marketing spend and softer consumer discretionary spending trends. "This will be tough and there's no way around that.