Mar 14, 2023

Meta layoffs: Facebook owner to cut 10,000 staff

Meta, which owns Facebook, Instagram and WhatsApp, has announced that it will cut 10,000 jobs. Meta chief executive Mark Zuckerberg said the cuts would be "Tough", and formed part of a "Year of efficiency". Mr Zuckerberg cited higher interest rates in the US, global geopolitical instability and increased regulation as some of the factors affecting Meta. It's interesting to note that Meta is looking to its recruitment team in the latest round of cuts. Meta has the added risk of Mark Zuckerberg's enormous gamble on the metaverse being The Next Big Thing.

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