Meta Begins Employee Layoff
Speaking on November 8, 2022, Mark Zukerberg, CEO of Meta, told Wall Street Journal that he was responsible for miscalculating company growth that resulted in overstaffing.
He said that the staffing cuts will be focused on the recruiting and business teams.
Meta’s head of human resources, Lori Goler, said that those laid off will be provided at least four months of salary to make their transition smoother.
Meta had 87000 employees in September this year. Mark Zukerberg said, “In 2023, we’re going to focus our investments on a small number of high priority growth areas.”
The plans for job cuts follow difficulties across the tech sector as the industry contends with slowing global economic growth.