Web giant, Meta, has decided to cut 11,000 jobs, or about 13% of its workforce, a decision which is the first step in a large scale redundancy plan in a sector marked by the economic crisis.
“Today, I am sharing some of the most difficult changes we have made in Meta’s history. I’ve decided to reduce the size of our team by about 13 percent and part ways with 11,000 of our talented employees,” said Mark Zuckerberg, the company boss, in a message to employees.
“I want to take responsibility for these decisions and how we got here. I know it is difficult for everyone, and I am especially sorry for those affected,” he added.
Note that Meta had about 87,000 employees worldwide at the end of September. The company has seen an impressive drop in revenue and profits in recent weeks.