Meta Announces Layoffs Affecting Around 11,000 Employees: What You Need to Know

Meta, the parent company of Facebook, is implementing significant workforce reductions. According to a blog post from the company, Meta is announcing that it will be cutting more jobs from its workforce. It follows rumors from last week that layoffs were imminent. The news confirms earlier speculation about potential job cuts within the tech giant.

Facebook parent Meta is laying off 13% of the workforce or 11,000 employees. This marks one of the largest layoff rounds in the tech industry this year. The cuts are expected to impact various departments within the company.

CEO Mark Zuckerberg made the announcement in a letter to employees on Nov. 9, which the company also released publicly. The letter detailed the reasons behind the decision and the support being offered to affected employees. Zuckerberg cited over-optimistic growth projections and the current economic downturn as contributing factors.

This announcement is a major shift for Meta, which has been aggressively investing in the metaverse and other emerging technologies. Stay updated on the latest developments regarding the Meta layoffs and their impact on the tech landscape.