Layoffs at Facebook: 5 things Mark Zuckerberg said while firing 11,000 Meta employees

Facebook's parent company Meta has fired 13 percent of its workforce. In a blog post, the company reported that it will be sacking 11,000 employees. The latest layoff is not just being done at Meta. Its CEO, Mark Zuckerberg, has noted that reductions are being made in every organization across both Family of Apps and Reality Labs. This basically means that people who work at Facebook, Instagram, WhatsApp, and other services have also been impacted. The announcement comes just a few days after Twitter laid off half of its workforce to save costs. Here are five things that Zuckerberg said while firing thousands of employees.

5 things Mark Zuckerberg said while firing 11,000 employees

-Zuckerberg has taken accountability for the latest decision that the company has taken to layoff thousands of employees. He also announced that the company will now be cutting discretionary spending and extending the hiring freeze through the first quarter of 2023.

-The CEO also blamed the economic environment for his latest decision. In a blog post, he asserted that the macroeconomic downturn, increased competition, and ads signal loss have dropped revenue by a big margin.

-He confirmed that all the affected employees will receive an email soon regarding the same. The company is promising to pay 16 weeks of base pay, and two additional weeks for every year of service, with no cap. The company will also be paying for all remaining PTO time, and RSU vesting. It will also cover the cost of healthcare for people and their families for six months. It is also promising to provide three months of career support with an external vendor, including early access to unpublished job leads.

- There will also be a cultural shift in how the company operates. For example, the company plans to allow desk sharing with people who already spend most of their time outside the office. It has been announced that more cost-cutting changes like this will be revealed in the coming months.

- Zuckerberg also confirmed that the company will be extending the hiring freeze through Q1 with a small number of exceptions. It will first keep a watch on the business performance, operational efficiency, and other macroeconomic factors to determine whether and how much they should resume hiring at that point. "This will give us the ability to control our cost structure in the event of a continued economic downturn," he said.