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Meta to Cut 11,000 Jobs; Zuckerberg Says ‘I Got This Wrong’

  • Reduction represents about 13% of social network’s employees
  • Facebook parent to extend hiring freeze through first quarter
Bloomberg business news
Meta's Zuckerberg: 'I Got This Wrong'
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Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs, calling himself responsible for the first major round of layoffs in the social media giant’s history.

The reductions, equal to about 13% of the workforce, were disclosed Wednesday in a statement. Zuckerberg then addressed employees, asking them to thank those who lost their jobs, and noting that employees outside North America will face uncertainty while the company sorts out who is affected, according to people familiar with the matter.