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Meta Layoffs: Facebook parent Meta begins job cut, fires more than 11,000 employees

Facebook's parent company Meta has fired more than 11,000 employees. Facebook's parent company Meta Platforms Inc. plans to lay off workers widely at its company on Wednesday, according to people familiar with the matter.

By Ruchi Upadhyay 
Updated Date

New Delhi: In the biggest layoffs this year, Facebook’s parent company Meta has fired more than 11,000 employees. Facebook’s parent company Meta Platforms Inc. plans to lay off workers widely at its company on Wednesday, according to people familiar with the matter.

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This action has been taken by the social-media company after the decline in the company’s revenue. Mark Zuckerberg, CEO of Meta, said in a blog post today that I’m sharing some of the most difficult changes in Meta’s history. I have decided to reduce the size of my team by about 13% and remove our more than 11,000 talented employees from the company.

Zuckerberg said, “We are taking several additional steps to become a more efficient company by cutting spending and extending our hiring freeze through Q1.” Preparations are on for a big budget cut. Significantly, the company has had to take this step due to a sharp slowdown in digital advertising revenue.

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