BREAKING: Facebook and Instagram’s parent company Meta is cutting its global workforce by 13% and has let more than 11,000 employees go.
Facebook and Instagram’s parent company Meta is cutting its global workforce by 13% and has let more than 11,000 employees go, the firm has announced.
Zuckerberg added that the tech giant would be cutting discretionary spending and extending its hiring freeze into 2023.that the social media giant that owns Facebook, Instagram and Whatsapp, was planning large-scale layoffs that will affect thousands of employees. He went on to say that Meta employees being laid off in the US will receive16 weeks of base pay plus two additional weeks for every year of service, with no cap.
‘There’s a notice period before termination and some visa grace periods, which means everyone will have time to make plans and work through their immigration status,’ said Zuckerberg.
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