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Meta Lays Off More Than 11,000 Employees

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Meta chairman Marc Zuckerberg.

Meta chairman Marc Zuckerberg attributed the cuts to growing too quickly during the pandemic, when a surge in online commerce led to a big spike in revenue.

Credit: Pete Marovich/The New York Times

Since Mark Zuckerberg founded Facebook in 2004, the Silicon Valley company has steadily hired more employees. At the end of September, it had amassed its largest-ever number of workers, totaling 87,314 people.

But on Wednesday, the company — now renamed Meta — began cutting jobs, and deeply.

Meta said it was laying off more than 11,000 people, or about 13 percent of its work force, in what amounted to the company's most significant job cuts. The layoffs were made across departments and regions, with areas like recruiting and business teams affected more than others. The divisions that were not cut as steeply included engineers working on projects related to the metaverse, the immersive online world that Mr. Zuckerberg has bet big on, two people with knowledge of the matter said.

From The New York Times
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