Meta layoffs 2022: Facebook parent company laying off 11,000 employees, 13% of workforce

Wednesday, November 9, 2022 12:00PMMeta's expected large-scale layoffs this week may not be all bad news for the Bay Area, according to a tech expert. Here's why.Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in aThe move comes just a week after widespread layoffs at Twitter under its new owner, billionaire Elon Musk.

An economic slowdown and a grim outlook for online advertising - by far Meta's biggest revenue source - have contributed to Meta's woes. This summer, Meta posted its first quarterly revenue decline in history, followed by another, bigger decline in the fall.Some of the pain is company-specific, while some is tied to broader economic and technological forces.

Meta has worried investors by pouring over $10 billion a year into the "metaverse" as it shifts its focus away from social media. CEO Mark Zuckerberg predicts the metaverse, an immersive digital universe, will eventually replace smartphones as the primary way people use technology.

That’s definitely for the best. The world doesn’t need facebook or meta.

Let’s see if he gets any backlash! That’s 3 Times Twitter layoffs! Good news hold his stock it’s off 75%!

Good see ya

Where is the left? They went nuts when Elon did the same thing with Twitter.

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Meta layoffs 2022: Facebook parent company laying off 11,000 employees, 13% of workforceFacebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday.
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Facebook parent company Meta cuts 11,000 jobs, 13% of workforceFacebook parent Meta is laying off 11,000 people as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said Wednesday. Shocking, not in this thriving economy they voted for. Go woke go broke. Just love watching people get fired. Liberals fired me over vax mandate. Karma is a bitch isn’t it. Meta needs to be marketed to the elderly 🤔
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