Monday, November 28, 2022
HomeBusinessFacebook owner Meta announces it will cut 11,000 jobs

Facebook owner Meta announces it will cut 11,000 jobs

Mark Zuckerberg apologized to Meta workers after sending an early morning email confirming thousands of job losses amid soaring costs and a weak advertising market.

The Facebook founder told executives in a meeting yesterday that broad cuts of 11,000 jobs will be announced, with recruiting and business teams to face major losses.

Employees received the confirmation about the cuts in a company-wide email which was sent at 6am EST this morning – with staff able to keep their email addresses for an extra day to say ‘farewell’.

The CEO admitted that he ‘got it wrong’ in the message and he ‘takes responsibility’ for the problems which caused him to make the cuts – which make up 13 percent of Meta’s workforce.

It is the first time in Meta’s 18-year history that they will be making major layoffs, which follow redundancies at other major tech companies including Twitter and Microsoft Corp.

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