Facebook parent company Meta cuts 11,000 jobs, 13% of workforce

  • 📰 FOX26Houston
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 53%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Facebook parent Meta is laying off 11,000 people as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said Wednesday.

Meta, like other social media companies, enjoyed a financial boost during the pandemic lockdown era because more people stayed home and scrolled on their phones and computers. But as the lockdowns ended and people started going outside again, revenue growth began to falter.

In this photo illustration, the Facebook logo is displayed on the screen of an iPhone in front of a Meta logo on Feb. 3, 2022 in Paris, France. RELATED:Last week, Twitter laid off about half of its 7,500 employees, part of a chaotic overhaul as Musk took the helm. He tweeted that there was no choice but to cut the jobs "when the company is losing over $4M/day," though did not provide details about the losses.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Always trying to top twitter!

The GOP has wanted to destroy the wokies in Silicon Valley let’s see how this goes.

Meta needs to be marketed to the elderly 🤔

Go woke go broke. Just love watching people get fired. Liberals fired me over vax mandate. Karma is a bitch isn’t it.

Shocking, not in this thriving economy they voted for.

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:

 /  🏆 448. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Facebook parent company Meta laying off 11,000 employees, 13% of workforce, Zuckerberg announcesFacebook 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. MattHaneySF get zuckerbergs people the ones you chased out Where is lisabloom with the lawsuit? NEWS_MAKER Any protests or investigations? Didn’t think so.
Source: abc7newsbayarea - 🏆 529. / 51 Read more »

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.
Source: ABC7Chicago - 🏆 284. / 63 Read more »

Facebook parent company Meta laying off 11,000 people, 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
Source: TucsonStar - 🏆 339. / 59 Read more »

Facebook parent company Meta laying off 11,000 people, about 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.
Source: WashTimes - 🏆 235. / 63 Read more »