American IT giant Meta, the former Facebook, announced that it will cut more than 11,000 people, or about 13% of all employees, due to the economic slowdown and declining advertising revenue.
This is what Meta revealed on the homepage on the 9th of the message sent by CEO Mark Zuckerberg to employees.
Among them, CEO Zuckerberg cited the economic slowdown against the background of rapid interest rate hikes in the United States, intensifying competition with other companies, and a decrease in advertising revenue as reasons for the reduction in personnel. It is said that it has decided to reduce more than 11,000 people, which is equivalent to 10%.
He also announced a freeze on new hires until March next year.
The US media reports that this is the first large-scale layoff since the company was founded in 2004.
Meta said that due to the global epidemic of the new Corona, online business expanded rapidly due to demand for stay-at-home demand, and although investment was expanded, performance was below expectations.
Zuckerberg apologized, ``I take responsibility for my mistakes.
The US IT giant also announced that Amazon will suspend new hiring for several months this month due to concerns about an economic slowdown, and Twitter, which was acquired by entrepreneur Elon Musk, has laid off half of its global workforce. We have reached a major turning point.