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Kerala Kaumudi Online
Saturday, 04 February 2023 12.27 PM IST

After Twitter now Meta layoffs 11,000 employees; decision taken to reduce costs, announces Zuckerberg

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NEW DELHI: Meta, the parent company of Facebook has sacked 11,000 employees. Meta layoffs come a few days after Elon Musk-led Twitter sacked around 50 per cent of its employees globally. The layoff is part of reducing costs due to declining revenue. Mark Zuckerberg, the company head, announced the new decision through a blog post. “Today I'm sharing some of the most difficult changes we've made in Meta's history. I've decided to reduce the size of our team by about 13 per cent and let more than 11,000 of our talented employees go”, wrote Zuckerberg.

The company has also taken additional measures such as hiring freezes to reduce costs. The sacked employees will be paid one-and-a-half months' salary and an additional two weeks' salary for each year of service. This is the first time that so many employees have been laid off together since Facebook started in 2004.

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TAGS: TWITTER, META, ZUCKERBERG, SACKS, EMPLOYEES, 11000, REDUCE COSTS, FACEBOOK
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