New Delhi. After the social media platform Twitter, now it was the turn of layoffs in Facebook. Meta Platforms Inc., the parent company of social media platforms like Facebook, Instagram and WhatsApp, has fired 11,000 of its employees. For the first time in the company’s 18-year history, such a large number of employees have been laid off. The company’s CEO Mark Zuckerberg announced the removal of employees. He attributed this to the fall in revenue due to wrong decisions.
Zuckerberg said – Today I am going to tell about some of the most difficult decisions made in the history of Meta. We have decided to cut our team size by about 13 per cent. With this, more than 11 thousand talented employees will get jobs. We are taking steps to become a more efficient company by cutting costs and holding off new hires until the first quarter.
Mark Zuckerberg also expressed regret for the affected employees and took full responsibility for the decision as well as how the company got to this point. He wrote – I want to take accountability for these decisions and how we got here. I know this is difficult for everyone and I am especially sorry for those who have been affected by my decision. It is worth noting that before this, the world’s richest businessman Elon Musk had announced the removal of half of its seven and a half thousand employees after buying Twitter.
