The parent company of Facebook, Meta, has announced it would lay off more than eleven thousand employees.
A Fox Business report said the development, which emerged on Tuesday, followed a disclosure in a letter Meta CEO Mark Zuckerberg wrote to staff.The letter read: “I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. “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.”
He further stated he would be held accountable for the decision, which he acknowledged was a tough decision for the company. “I want to take accountability for these decisions and how we got here. I know this is tough for everyone, and I’m especially sorry for those impacted,” he wrote.
Inspired by elonchukwu Musk.. Thanks nwa afor
For what?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BREAKING: Meta Company, Formerly Facebook, Sacks Over 11,000 Employees Amid Zuckerberg's Declining Fortunes | Sahara ReportersMeta Platforms Inc, the parent entity of social media platform Facebook, has sacked over 11,000 employees and is set to extend the freeze it has imposed on new hiring. This is about 13 percent of the company’s workforce. '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,' Meta chief executive officer Mark Zuckerberg said. Chai... Make he sell some of his social media nah... Only him Facebook, Whatsapp, Instagram.... How he wan take manage all of them without having clashes. Sometimes greediness dey kill man Too much a number
Source: SaharaReporters - 🏆 9. / 63 Read more »
Facebook, WhatsApp’s Parent Company, Meta Plans Large-Scale Sacking Of Workers | Sahara ReportersMeta, the parent company of Facebook, Instagram and WhatsApp is planning to lay off thousands of employees this week, to scale back its workforce. Wall Street Journal reports that the announcement can be expected as early as Wednesday. The company in October said to have forecast a weak holiday quarter and significantly higher costs next year, wiping $67 billion off Meta's stock market value, adding to the loss of more than half a trillion dollars this year.
Source: SaharaReporters - 🏆 9. / 63 Read more »