Meta lays off 11,000 employees, 13% of its workforce

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Meta, the parent company of Facebook, has officially announced the dismissal of 11,000 of its workers, which represents 13% of its workforce. Mark Zuckerberg attributes this decision to the end of the pandemic and acknowledges having been wrong about the forecasts made about its evolution and its effects on user habits.

Meta reinforced its staff due to the growth forecasts in the use of online platforms that it prepared during the pandemic

After a great boost in electronic commerce occurred during the pandemic, in Meta they prepared forecasts in which it was considered that this trend would have a permanent acceleration. Over time, this forecast has been shown to be wrong and, in the words of Zuckerberg

«not only has it happened that online commerce has returned to previous trends but also that circumstances such as the global economic recession, the increase in competition and the decrease in the impact of the ads have caused a decrease in income, lower than expected«.

The CEO of Meta intones a mea culpa stating:

«I was wrong and I take responsibility for it«.

Currently, Meta’s workforce reached 87,000 employees, having doubled in the last three years. In the years 2020 and 2021 alone, 27,000 new employees were hired, mainly due to the increase in use and the growth forecasts expressed by Zuckerberg.

This trend has continued throughout this year, by hiring 15,000 new employeesalthough this time it was the firm commitment to the metaverse, the virtual ecosystem in which Zuckerberg believes that digital interactions will take place in the near future, since the development of this virtual platform is what was behind these contracts.

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Following the recently announced layoffs Meta’s workforce will be reduced to 75,000 employeeswhich continues to be a much higher amount than the figures presented by the company before the pandemic.