Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday.
Meta's expected large-scale layoffs this week may not be all bad news for the Bay Area, according to a tech expert. Here's why.Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark ZuckerbergThe move comes just a week after widespread layoffs at Twitter under its new owner, billionaire Elon Musk.
Some of the pain is company-specific, while some is tied to broader economic and technological forces.Last week, Twitter laid off about half of its 7,500 employees, part of a chaotic overhaul as Musk took the helm. He tweeted that there was no choice but to cut the jobs "when the company is losing over $4M/day," though did not provide details about the losses.
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Facebook parent company Meta laying off 11,000 people, about 13% of workforceFacebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday.
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Facebook parent company Meta laying off 11,000 people, 13% of workforceFacebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes
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