Meta Confirms Layoffs—11,000 Jobs Cut At Facebook’s Parent Company
Wednesday, 09 November, 2022, 18:36
Meta, the parent company of Facebook, WhatsApp and Instagram, confirmed plans to lay off thousands of workers on Wednesday, the latest tech giant to trim headcount amid gloomy economic forecasts and uncertain prospects.
Meta founder and chief executive Mark Zuckerberg told workers the firm will cut its headcount by 13%, or 11,000 employees, amid falling revenue, grim global economic forecasts and increased competition.
Zuckerberg said the recruiting team would be disproportionately affected by the layoffs and business teams will be restructured “more substantially” than others to reflect new priorities.
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