META WILL REDUCE ITS WORKFORCE BY 13% UNDER FACEBOOK OWNERSHIP

  • 09/11/2022

Facebook, Instagram, and WhatsApp owner Meta has announced that it will reduce its workforce by 13%. From the 87,000 employees who currently work there around the world, 11,000 will be laid off.

The cuts, according to Meta's CEO Mark Zuckerberg, were "some of the most challenging changes we've ever made," he said in a statement. The news comes after significant layoffs at tech companies like Twitter, which reduced its workforce by about half.

"I know this is tough for everyone, and I'm especially sorry to those impacted," he wrote in the statement.

Mr Zuckerberg blamed massive long-term expectations for growth based on the firm's rise in revenue during the pandemic.

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