I'm on facebook's side on this one.
The site experiencing traffic drop and doing layoffs, Diply, is a click-bait content farm[1].
> Not surprisingly, the traffic was built largely on the usual melange of stories that are meant to be viral, shareable and not so taxing on brain cells — listicles, clickbait, household tips and user-generated content that allows Diply to go light on editorial staffing
[1] Source [2015]: https://www.usatoday.com/story/money/2015/11/26/diply-invest...
Ironically this story's title is also clickbait-ish. The Algorithm changes are allegedly leading to traffic drop (and in turn layoffs) at Diply, a facebook advertizer / "sharer", not at Facebook itself.