Meta CEO Mark Zuckerberg confirmed Tuesday that his company will lay off an additional 10,000 employees as the corporation struggles with dwindling ad revenue.
The announcement comes months after more than 11,000 workers were fired in November.
Breaking News: Meta, the owner of Facebook and Instagram, plans to lay off about 10,000 employees, or roughly 13% of its work force. The cuts follow 11,000 layoffs in November.https://t.co/SDJqKY1Jui
— The New York Times (@nytimes) March 14, 2023
“Here’s the timeline you should expect: over the next couple of months, org leaders will announce restructuring plans focused on flattening our orgs, canceling lower priority projects, and reducing our hiring rates,” Zuckerberg said in a message to employees.
“We are a technology company, and our ultimate output is what we build for people,” he added.
Read the full report at CNBC.