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Apple approaches $4T valuation as confidence reignites

Facebook owner Meta to lay off thousands of employees

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Facebook owner Meta to lay off thousands of employees

Meta, the parent company of Facebook and Instagram, is to lay off thousands of employees, equivalent to 13 percent of its workforce.

Axar.az reports that Mark Zuckerberg, the company’s CEO, said letting go more than 11,000 employees was one of the “most difficult changes in Meta’s history.”

The layoffs follow similar moves from other US tech giants, including Microsoft, Salesforce and Twitter.

Workers in the US will receive 16 weeks of base pay plus two extra weeks for every year of service. Those outside the US will receive “similar” compensation.
Date
2022.11.15 / 18:17
Author
Axar.az
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