Meta Is Planning To layoff 11,000 Employees

Mark Zuckerberg, CEO of Meta and the company that owns Facebook just announced the layoffs of 11,000 Facebook employees that are 13% of the staff.

The reasoning for the large layoffs is due to the company’s terrible earnings.

In a statement Mark Zuckerberg said “Today I’m sharing some of the most difficult changes we’ve made in Meta’s history,” Zuckerberg said in the letter. “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.”