After Elon Musk’s Twitter, now Mark Zuckerberg’s Meta to sack 11,000 staff

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Days after Elon Musk faced criticism for sacking hundreds of staff, Mark Zuckerberg-owned Meta has decided to lay off over 11,000 staff. This is being described as the most significant job cuts in the history of Meta, which owns Facebook, Instagram and WhatsApp.

“Today I’m sharing some of the most difficult changes we’ve made in Meta’s history,” Mark Zuckerberg wrote in a blog post to employees, as reported by CNN.

Zuckerberg added, “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 continued, “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.”

Also Read: Jack Dorsey’s stunning apology to sacked Twitter employees after Elon Musk wreaks havoc with mass layoffs

Zuckerberg said that his company had overinvested at the start of the Covid pandemic, adding that the decision did ‘did not play out the way I expected.’

He said, “Not only has online commerce returned to prior trends but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected. I got this wrong, and I take responsibility for that.”

Meta has total workforce of 87,000 globally.