BREAKING: Zuckerberg said his company will cut 13% of its staff — or more than 11,000 people — in an effort to withstand any further downturn in the economy.
Meta CEO Mark Zuckerberg on Wednesday said his company will cut 13% of its staff — or more than 11,000 people — in an effort to withstand any further downturn in the economy.: It's Meta's biggest round of layoffs in its history, and it underscores the financial pressure the tech giant is under now that it's trying to pivot its business.Wednesday, Zuckerberg said he wanted to take accountability for how the company got to this point.
"In this new environment, we need to become more capital efficient," he wrote. "We've shifted more of our resources onto a smaller number of high priority growth areas — like our AI discovery engine, our ads and business platforms, and our long-term vision for the metaverse."
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