Mark Zuckerberg apologized to Meta workers after sending an early morning email confirming thousands of job losses amid soaring costs and a weak advertising market.
The Facebook founder told executives in a meeting yesterday that 11,000 jobs will be cut, with recruiting and business teams to face major losses.
Zuckerberg, 38, was said to have appeared gloomy on the call and also said he was accountable for missteps made by Meta.
Employees received the confirmation about the cuts in a company-wide email which was sent at 6am EST this morning - with staff able to keep their email addresses for an extra day to say 'farewell'.
The CEO admitted that he ‘got it wrong' in the message and özel yurt fiyatları he ‘takes responsibility' for the problems which caused him to make the cuts - which make up 13 percent of Meta's workforce.
It is the first time in Meta's 18-year history that they will be making major layoffs, which follow redundancies at other major tech companies including Twitter and Microsoft Corp.
Taking a page out of Twitter CEO Elon Musk's book, Zuckerberg sent the early morning email to all employees letting them know the company had lost two thirds of its value.
Zuckerberg delivered the grim news about job cuts on a call with hundreds of Meta executives
The Facebook founder was reportedly downcast during the announcement and also accepted responsibility for some of the company's missteps, saying his optimism led to overstaffing
Meta's share price has tumbled 71.5 percent since the beginning of the year and the company has also lost billions through its 'Metaverse' project, which includes virtual worlds for users
As of the market opening on Wednesday the share price has risen 5 per cent today, özel yurt fiyatları with a bigger increase expected.