Tech giant Meta, the company behind Facebook, Instagram and WhatsApp, has confirmed plans to cut more than 11,000 jobs across its global workforce. The major restructuring will reduce staff numbers by about 13 per cent.
Founder and chief executive Mark Zuckerberg said the cuts were “some of the most difficult changes we’ve made in Meta’s history”. He confirmed around 11,000 of Meta’s 87,000-person global workforce would be cut.
In a message to staff today, he said: “I got this wrong and I take responsibility for that.” Mr Suckerberg blamed the “macroeconomic downturn, increased competition, and ads signal loss” for causing a drop in the company's revenue.
