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Meta Forced To Lay Off Thousands Of Employees

According to a November 9th letter from Mark Zuckerberg, Facebook’s parent company, Meta, is laying off over 11,000 employees. This represents roughly 13% of the organization’s workforce.

“Today I’m sharing some of the most difficult changes we’ve made in Meta’s history,” Zuckerberg wrote. “I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. 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. I want to take accountability for these decisions and for how we got here. I know this is tough for everyone, and I’m especially sorry to those impacted.”

Zuckerberg went on to say that Meta will be reducing its workforce across all sectors but that its recruiting department “will be disproportionately affected” by this decision because the business plans on hiring “fewer people next year.” Moreover, Meta is expecting to extend its hiring freeze through the first quarter of 2023 “with a small number of exceptions.”

“This is a sad moment, and there’s no way around that,” his letter reads. “To those who are leaving, I want to thank you again for everything you’ve put into this place. We would not be where we are today without your hard work, and I’m grateful for your contributions.”

Impacted employees will receive 16 weeks of play plus two additional weeks for each year of service. Beyond that, Meta will cover the health insurance of affected employees for six months.

(All information was provided by CNBC, Meta, and Wikipedia)

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