Meta Platforms Cuts 11,000 Jobs

CEO Mark Zuckerberg revealed that Meta Platforms will cut 11,000 jobs. That represents around 13% of its global workforce.

The move was anticipated following recent financial struggles and a shareholder backlash. In a message to staff, Zuckerberg stated more than 11,000 jobs were to go and the company had extended a freeze on recruitment into the first quarter of 2023, albeit with some exceptions.

Meta planned to inform staff if they were being culled by email, but Zuckerberg also noted those affected would be unable to access company systems due to the amount of sensitive information involved. Staff cuts span all sectors of the social media company, but the recruiting team will be disproportionately affected due to the hiring freeze.

Zuckerberg said the company would also restructure its business teams more substantially going forward. He noted the layoffs were a last resort after efforts to rein in other sources of cost. “Overall, this will add up to a meaningful cultural shift in how we operate,“ Zuckerberg concluded.