Meta Laying off 11,000 as Tech Industry Slashes Jobs
Facebook's parent company cuts jobs to protect its profits
Facebook parent company Meta plans to cut more than 11,000 jobs, or 13 percent of its workforce, as it seeks to scale back expenses and transform its business in a more competitive digital advertising market.
The social media giant also will cut discretionary spending and extend its hiring freeze through March in a bid to become “leaner and more efficient,” said Meta CEO Mark Zuckerberg in a statement.
He called the layoffs "some of the hardest changes we've made in Meta's history," and noted that all employees will soon get an email "letting you know what this layoff means for you."
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