Facebook parent Meta slashes workforce by 11,000, Zuckerberg takes blame

Facebook parent Meta Platforms is laying off 11,000 employees, or about 13 per cent of its workforce, as it battles faltering revenue and broader tech industry woes. This is the first major round of layoffs in the Menlo Park-headquartered social media giant’s history. This follows a big round of job cuts at Twitter soon after Elon Musk’s $44-billion takeover.

“The teammates who will be leaving us are talented and passionate, and have made an important impact on our company and community. Each of you has helped make Meta a success, and I’m grateful for it. I’m sure you’ll go on to do great work at other places,” said Mark Zuckerberg, Meta’s chief executive officer and one of the richest in the world, in a blogpost.