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World – Meta to lay off 11,000 employees (ABC News)

10 November 2022

Meta, the parent company of Facebook, Instagram and WhatsApp, announced yesterday that it plans to lay off 11,000 employees, an estimated 13% of its global workforce, ABC News reported. “We’ve cut costs across our business, including scaling back budgets, reducing perks, and shrinking our real estate footprint,” Meta CEO and founder Mark Zuckerberg said. “We’re restructuring teams to increase our efficiency. But these measures alone won’t bring our expenses in line with our revenue growth, so I’ve also made the hard decision to let people go.”

It is apparent from comments on LinkedIn that many of the recruiters at Meta have been hit by this swathe of redundancies.