Facebook parent company Meta will lay off 11,000 employees
https://www.cnn.com/2022/11/09/tech/meta-facebook-layoffs
The job cuts will impact many corners of the company, but Meta’s recruiting team will be hit particularly hard as “we’re planning to hire fewer people next year,” Zuckerberg said in the post. He added that a hiring freeze would be extended until the first quarter, with few exceptions.
In September, Meta had a headcount of more than 87,000, per a September SEC filing.
Meta’s core ad sales business has been hit by privacy changes implemented by Apple, advertisers tightening budgets and heightened competition from newer rivals like TikTok. Meanwhile, Meta has been spending billions to build a future version of the internet, dubbed the metaverse, that likely remains years away from widespread acceptance.
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