Meta, which owns Facebook, Instagram and WhatsApp, has announced that it will cut 13% of its workforce.
The first mass lay-offs in the firm’s history will result in 11,000 employees, out of a worldwide headcount of 87,000, losing their jobs.
Meta’s chief executive, Mark Zuckerberg, said the cuts were "the most difficult changes we’ve made in Meta’s history."
Zuckerberg blamed massive long-term expectations for growth based on the firm’s rise in revenue during the pandemic.
The news follows major lay-offs at Twitter, which cut about half its staff, and other tech firms.
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