CEO Mark Zuckerberg says Meta is firing 11000 employees, staff size reduced by 13 per cent

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CEO Mark Zuckerberg says Meta is firing 11000 employees, staff size reduced by 13 per cent

After weeks of speculation, CEO Mark Zuckerberg has announced massive layoff at Meta. The company, which runs Facebook, WhatsApp and Instagram, is letting go of 11,000 employees, or around 13 per cent of total headcount.

Story highlights

Meta announces massive layoffs, firing 11000 employees.
Mark Zuckerberg calls decision toughest in company's history.
Fired employees will get 16-week salary as severance.

Meta CEO Mark Zuckerberg has confirmed laying off thousands of employees. The company beat Elon Musk's Twitter and has announced laying off 13 per cent of its workforce globally. More than 11,000 employees have been impacted by the Meta layoffs, Zuckerberg said in a letter to employees on Wednesday. Last week, Twitter fired nearly 10 per cent staff, which is more than 3500.

"Today I'm sharing some of the most difficult changes we've made in Meta's history. I've decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1," the Meta CEO said.

Zuckerberg takes accountability for the biggest layoffs in the tech industry. He said, "I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I'm especially sorry to those impacted."

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CEO Mark Zuckerberg says Meta is firing 11000 employees, staff size reduced by 13 per cent

After weeks of speculation, CEO Mark Zuckerberg has announced massive layoff at Meta. The company, which runs Facebook, WhatsApp and Instagram, is letting go of 11,000 employees, or around 13 per cent of total headcount.

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