Facebook parent company Meta lays off 11,000 employees, including as many as 650 in the UK

France Nouvelles Nouvelles

Facebook parent company Meta lays off 11,000 employees, including as many as 650 in the UK
France Dernières Nouvelles,France Actualités

Meta CEO Mark Zuckerberg said 11,000 people would be losing their jobs on Wednesday, after his costly gamble on the 'metaverse' saw the share price tumble

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Mark Zuckerberg, Meta founder and chief executive, confirmed on Wednesday that 13% of the company's 87,000 staff would be laid off because of the "macroeconomic downturn, increased competition, and ads signal loss".

He added in a statement that the cuts were "some of the most difficult changes we've made in Meta's history."

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