Meta sets up new Canada hub, pauses Dutch data center plans
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Meta Platforms (FB
+2.9%) has announced it's establishing a new engineering hub in Toronto alongside an effort to boost hiring across Canada.
The new Toronto hub is expected to create up to 2,500 new jobs over the next several years, mainly engineering-focused and "expected to span across building extended reality experiences and Meta technologies."

The company is also setting up the first Canadian engineering teams focused on WhatsApp, Messenger and Remote Presence, and adding to its Canadian Reality Labs and AI Research teams.
Meanwhile, Meta is pausing its efforts to build a data center in Zeewolde in the Netherlands, citing "current circumstances," Bloomberg reports.
The large data center had faced increasing pushback from the local municipality. Meta says it strongly believes in being "good neighbors."
Earlier, Meta stock got a positive mention from Morgan Stanley, which is bullish on a 12-month span even if it expects some bumps for a quarter or two.