Facebook owner Meta to sack 11,000 workers after revenue collapse

It is the first round of redundancies in Meta’s history and comes after its workforce peaked this year at 87,314. Photograph: Dado Ruvić/Reuters

Mark Zuckerberg’s Meta is cutting 11,000 jobs, more than one in eight staff, after a disastrous collapse in revenue has left the company behind Facebook overstaffed and “inefficient”, the chief executive said in a note to staff.

However, Zuckerberg indicated he planned to continue backing the company’s controversial multibillion-dollar bet on virtual reality, saying the metaverse project was a “high-priority growth area”.