Meta, which is the parent company of Facebook has sacked over 11,000 employees. This is coming weeks after report suggested that Mata had planned to sack its staff this week, over poor performance.
On Monday, Mata had come out to express disappointment over performance of its staff.
As of 30th of September, this organization had about 87,000 employees across the world and on it different platforms. And this includes social media sites Facebook and Instagram as well as it messaging app Whatapp.
CEO Mark Zukerberg made this announcement after a disappointing third quarter results. He said the firm’s staff wasn’t going to increase by the end of 2023, and it might decrease drastically.
The recent plans from Meta follows recent announcement by other tech firms to stop hiring or cut their workforce as the organizations fight economic headwinds.
On Thursday, Silicon Valley firms Stripe and Lyft made an announcement of large-scale layoff. Amazon also mentioned that it will take a break from hiring in it cooperate offices.
Twitter, which is freshly acquired by Elon Musk, abruptly laid off 7,500 workers last week.
In fulfillment of its plan, on Wednesday, Mark Zukerberg announced the mass sacking in a message to it employees, which they shared on its Newsroom.
“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,” Zuckerberg said.
“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.”