It is known that top tech giants like Twitter, Microsoft and Accenture have laid off thousands of employees due to many reasons lately.
Now, Facebook’s parent company Meta has joined the list to fire over 11,000 employees. To reduce costs following discouraging earnings and a drop in revenue, the company let go off 13% of its staff.
Meta CEO Mark Zuckerberg told employees Wednesday that firing the employees is some of the most difficult changes they’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,” he said in a blog post today.
“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,” Zuckerberg added.
Mark Zuckerberg also apologised to Meta employees, who got impacted by these decisions.