Facebook's parent company Meta fires more than 11,000 employees
This is 13% of the company's employees
Facebook's parent company Meta has fired more than 11,000 employees. The company is taking steps towards cutting costs after recording a rise in overall costs of the company in the past quarter.
"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," Meta's Chief Executive Mark Zuckerberg said in a blog post on Wednesday.
"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. 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," Zuckerberg added.
The sacking of Meta employees comes just days after another major social media platform Twitter fired nearly 50 per cent of its employees globally following its takeover by Elon Musk.
