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11,000 Employees Kicked Out By Meta

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1

Mark Zuckerberg posted a message revealing that more than 11,000 "talented employees," representing 13% of the company's total workforce, are fired. 

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2

Facebook founder Mark Zuckerberg said he is accountable and was "especially sorry" for those affected. 

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3

The mass layoffs were also caused by misjudgments in investments and the weakness of the ad market.

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4

According to the executive, predictions of the internet after COVID didn't come out as planned. 

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5

The company faced increased competition and ad loss, leading to lower revenue. 

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6

The United States will pay severance and paid PTO to terminated employees. 

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7

They will also receive health insurance for six months. Third-party vendors will provide career support and assistance. 

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8

The letter states that support will be the same outside the US, considering local employment laws.

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