IPFS News Link • Social Networking/Social Media
Mark Zuckerberg To Fire 11,000 Meta Employees
• Zero HedgeFollowing a WSJ report earlier this week that explained Meta Platforms was about to slash thousands of jobs, CEO Mark Zuckerberg confirmed the layoffs in a letter to employees premarket Wednesday.
"I've decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go," Zuckerberg told employees in a letter published on the company's website.
Zuck said, "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."
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The layoffs come as broad head-count reductions are seen across the tech industry.
Layoffs This Month (% of Workers):
— The Kobeissi Letter (@KobeissiLetter) November 8, 2022
1. Twitter: 50%
2. Cameo: 25%
3. Robinhood: 23%
4. Intel: 20%
5. Snapchat: 20%
6. Coinbase: 18%
7. Opendoor: 18%
8. Stripe: 14%
9. Lyft: 13%
10. Shopify: 10%
11. Meta: "Thousands"
12. Apple: Hiring Freeze
13. Amazon: Hiring Freeze