Meta platforms said on Wednesday will leave 13% of its workforce, or more More than 11,000 employees, in one of the biggest tech This layoff year Like Facebook parent battles High costs and weak advertising market.
CEO Mark Zuckerberg described the job cuts as “the most difficult.” changes we made in dead history. “
“I want Takes accountability for these decisions And the for how We got here. I know this is difficult for “Everyone, I am especially sorry for those affected,” Zuckerberg said. in Message to employees.
wide job cuts, first in dead 18-year history follow in thousands of Layoffs in another major tech Companies including Twitter and Microsoft Corp owned by Elon Musk.
Epidemiological boom promoted tech Companies and their valuations have turned into bankruptcy this year in The face of High and fast inflation contracts rising interest rates.
“Not only online Trade has returned to previous trends, but the overall economic downturn has increased competition and advertising signal you have a loss caused Zuckerberg said our revenue is much lower than I expected.
“I got this wrongAnd I take responsibility for which – which.”
Zuckerberg stressed need to become more Capital Efficiency He said the company will turn resources into a “high priority.” growth areas” such as the AI discovery engine, advertising and business platforms, as well as its metaverse project.
Mita said she will pay 16 weeks of Basic salary plus two extra weeks for All year of Service as part of the classroom package And all the remaining time paid off.
Employees will receive cost of Health Care for six According to the company, those affected will receive their benefits on November 15.
dead said it also plans To cut discretionary spending and extend hiring freeze through first quarter.
The company shares that lost more of the thirds of It was worth up about 3% in before market trading.
Last week, Twitter put off Around half of Its 7,500 employees, part of Messy fix like musk took Helmet – driving. He wrote on Twitter that there was no choice but to cut jobs “when the company loses over $4 million a day,” although no details of losses were provided.
Meta raised investor concern through the flow over 10 billion dollars a year into the “metaverse” as he shifts his focus away from social media. Zuckerberg predicts metaverses, and it’s immersive digital Universe, will eventually replace smartphones as primary way people use technology.
Dead and its announcers are preparing for possible recession. there also The challenge of Apple privacy toolsmaking it more Difficult for social media platforms like Facebook, Instagram and Snap for tracking people without their consent and targeting ads to them.
Competition from TikTok also A growing threat as young people people Streaming video sharing app over Instagram, any meta also Owns.
