"Today I'm sharing some of the most difficult changes we've made in Meta's history," Zuckerberg said in the letter. "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.
Impacted employees will receive 16 weeks of pay plus two additional weeks for every year of service, Zuckerberg said. Meta will cover health insurance for six months. In this new environment, we need to become more capital efficient. We've shifted more of our resources onto a smaller number of high priority growth areas — like our AI discovery engine, our ads and business platforms, and our long-term vision for the metaverse. We've cut costs across our business, including scaling back budgets, reducing perks, and shrinking our real estate footprint. We're restructuring teams to increase our efficiency.
We made the decision to remove access to most Meta systems for people leaving today given the amount of access to sensitive information. But we're keeping email addresses active throughout the day so everyone can say farewell.
That’s racist
Of equal import; they have scraped expansion plans in Austin Texas …
Bye Meta
Wellbeing is not affected by how many or how few likes i get thank God. I left fakebook and am now free, free from participating in peoples narcissism and show off behaviour free from becoming like that myself and enjoying the richness of real life. Mark Zukkerberg looks strange
And if i go to shop or eat in the city, i enjoy it in the real life with myself and friends and or family, if i go anywhere or do anything i am present in real life not posting pictures of it for attention to get likes on social media like a sad looser and my mental wellbeing
This is probably the first round. They’ve lost so much value because Zuck has his head in the sand with the metaverse.
META reduces costs + GOP wins: Tiktok will be banned = META is $199 value now.
No one cares about meta, shut it down, end the life invading platforms i left Facebook months ago, don’t miss it. I feel free and I live in the real world not for posting and getting likes from haters and fakers!! I take walks in nature and see the world for real
If the earning will come from layoffs and not from business growth , you should sell the stock.
Yikes!
11,000 thousands!! Try to edit that 😬😅
That's not a number
For only $8, elonmusk will let you edit this tweet!
11,000 thousand is 11 million. Eh, really?
Why declared after Election Day?
So sad News
11000. Word thousands is unnecessary
11,000×1000=1,000,000
11,000 thousand ?
here we go...
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