Meta confirms 11,000 layoffs, amounting to 13% of its workforce

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Facebook, Instagram, and WhatsApp’s parent company Meta has confirmed a huge round of layoffs, amounting to 13% of its workforce.

Meta’s headcount equates to around 87,000, meaning that 11,000 people will be leaving Meta globally. According to Zuckerberg, each employee will receive 16 weeks of severance pay, plus two extra weeks for each year of service. So for example, someone who has worked at Meta for four years will effectively get six months pay.

The news comes as companies across the technological spectrum have announced huge swathes of redundancies in recent weeks, with Twitter laying off some half of its 7,500 workforce in the wake of Elon Musk’s arrival at the helm, while Stripe last week revealed plans to cut its headcount by 14%(1,120 employees). And just yesterday, Salesforce confirmed it had laid off “hundreds” of workers.

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