Meta has confirmed a huge round of layoffs, amounting to 13% of its workforce.
META CEO and cofounder Mark Zuckerberg has shared this in a statement saying in part,
“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”.
He shared the following with META employees;
Mark explained why the lay offs had to be done, saying that “at the start of Covid the world rapidly moved online and the surge of e-commerce led to outsized revenue growth”. According to the META boss, some investments he made at the time did not turn out the way he expected,
Twitter has laid off more than half of it’s workforce since Elon Musk’s takeover.