Meta has announced that it's cutting 11,000 jobs, in what Mark Zuckerberg has described as 'some of the most difficult changes' made in the company's history. 👀
Meta has announced that it's cutting 11,000 jobs, in what Mark Zuckerberg has described as "some of the most difficult changes" made in the company's history.
To put these job cuts into context, Twitter lost about 3,750 staff when it halved its headcount last week — meaning Meta's reduction is far more drastic in terms of the number of people affected. Meta has been confronted by multiple headwinds over recent months. Changes to Apple's privacy settings have hit the tech giant hard, with estimates suggesting that it is losing a whopping $10 billion per year as a result.
While he said that the company does need to become more capital efficient, he spoke of shifting "more of our resources onto a smaller number of high-priority growth areas" — AI, ads, and its long-term vision for the metaverse among them.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Facebook parent Meta cuts 11,000 jobs, 13% of workforceBREAKING: 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.
Read more »
Facebook parent Meta cuts 11,000 jobs, 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.
Read more »
Facebook parent company Meta cuts 11,000 jobs, 13% of workforceFacebook parent Meta is laying off 11,000 people as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said Wednesday.
Read more »
Facebook’s parent company, Meta, cuts 11,000 jobs — 13% of its workforceCEO Mark Zuckerberg said he previously made the decision to hire aggressively, anticipating rapid growth even after the pandemic ended. “Unfortunately, this did not play out the way I expected.”
Read more »
Facebook parent Meta cuts 11,000 jobs, 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…
Read more »
Facebook parent Meta cuts 11,000 jobs, 13% of workforceMeta's job cuts come just a week after widespread layoffs at Twitter under new owner Elon Musk. There have been numerous job cuts at other tech companies that hired rapidly during the pandemic.
Read more »