Meta* will lay off more than 11 thousand people. This is the largest reduction in the company's history
Mark Zuckerberg announced that he is going to cut 13% of the Meta* staff and extend the moratorium on hiring new employees until the end of the first quarter of 2023. He called this decision difficult and took full responsibility for the current situation.
The cuts will take place throughout the company. Meta* will compensate the affected employees and provide the necessary support.
According to The Wall Street Journal, against the background of the news, Meta* shares on the premarket rose by 4.6% to $100.9 apiece.
*The organization’s activities are prohibited in the Russian Federation.
