Meta, the parent company of Facebook, announces 11,000 layoffs

“I have decided to reduce the size of our team by approximately 13% and separate myself from 11,000 of our talented employees,” he added.

This is the first major social plan in the history of the American technology group.

“I want to take responsibility for these decisions and how we got here. I know this is hard for everyone, and I’m especially sorry to those affected,” Zuckerberg said.

As of September 30, Meta had some 87,000 employees worldwide on its different platforms, which include the social networks Facebook and Instagram, as well as the WhatsApp messaging platform.

The company recently published disappointing quarterly results, with its turnover and profits falling, as well as a stagnation in the number of users.

The technology industry is currently in a severe recession and several large companies have announced massive layoffs.

Twitter’s new owner, Elon Musk, laid off half of his staff last week.

These platforms whose business model is based on advertising suffer particularly from budget cuts by advertisers, affected by inflation and rising interest rates.