HomeTechnologyMeta, the parent company of Facebook, announces 11,000 job cuts

Meta, the parent company of Facebook, announces 11,000 job cuts

The group that owns Facebook and Instagram had planned a huge wave of layoffs. Meta has announced its intention to separate from 11,000 people.

Meta, the parent company of Facebook, announced on Wednesday the loss of 11,000 jobs, or about 13% of its workforce, a large-scale social plan in a technology sector heavily affected by the economic crisis.

“Today I share with you some of the most difficult changes we have made in the history of Meta,” announced the head of the group, Mark Zuckerberg, in a message addressed to employees. “I have decided to reduce the size of our team by approximately 13% and separate myself from 11,000 of our talented employees.”

This is the first social plan within Facebook since its creation in 2004. Like the vast majority of technology companies, Meta’s stock price has fallen sharply (-71%) since the beginning of the year.

>> More info to come on BFM Business in a few moments. Also find the live from BFM Business on video and follow us On twitter.

Author: MP with AFP
Source: BFM TV

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