Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country
AEOI Chief Mohammad Eslami: We witnessed new, stricter stances from European countries since signing new agreement with IAEA
Saree: Our UAV force targeted the so-called Ramon Airport in the Umm al-Rashrash area in southern occupied Palestine
YAF spokesperson Brigadier General Yahya Saree: Our rocket force carried out an operation with a Palestine 2 hypersonic ballistic missile targeting a sensitive target in the occupied Yafa area
Trump administration clears first Ukraine arms aid package paid for by allies: Reuters, citing sources
Saudi Crown Prince Mohammad bin Salman receives Secretary of Iran's Supreme National Security Council Ali Larijani at his office in Al-Yamamah Palace
Wakim: Surrender is not in our dictionary, and it is not true that "Israel" can implement its project in Lebanon and the region
Wakim: The US is preventing the armament of the Lebanese army. The question is, why are the weapons it is handed over by the Resistance being destroyed?
Wakim: The Resistance is required to hand over its weapons to the [current] authority. The question is: Is this authority independent or subservient to America?

Meta to layoff 13% of staff, Zuckerberg claims responsibility

  • By Al Mayadeen English
  • Source: Al Mayadeen English + Agencies
  • 9 Nov 2022 15:55
3 Min Read

The Head of Meta, the parent company of Facebook, Whatsapp, and Instagram informed the company's staff that the US tech giant will be laying off 11,000 of its workforce.

  • x
  • meta
    Facebook's parent company Meta to cut workforce by 13 percent.

Mark Zuckerberg, the CEO of META, announced that the US tech giant will be laying off 13 percent of its workforce. 11,000 of Meta's staff will be cut in "the most difficult changes we've made in Meta's history," said Zuckerberg on Wednesday.

The layoffs will include teams from the metaverse research labs along with teams working on apps including Facebook, Whatsapp, and Instagram.

Earlier in September, people with knowledge of the company's plans claim that Meta Platforms Inc. is aiming to reduce expenses by at least 10% in the upcoming months, including through laying off employees, as the social media titan deals with stagnant growth and competitive pressures.

Those familiar with the company's plans also noted the cutbacks are believed to be a precursor to bigger cuts. While some savings are projected through cutbacks to overhead and consultancy budgets, the majority is likely to come from decreased employment.

Read more: Meta CEO reveals FBI ordered Facebook to censor Biden's laptop story

Addressing his staff, Zuckerberg stated, "I want to take accountability for these decisions and for how we got here."

"I know this is tough for everyone, and I'm especially sorry to those impacted,"  added the head of Meta.

Related News

Nepal blocks Facebook, X, YouTube after firms defy local registration

Meta claims AI needs Aussies social media data to learn local concepts

As the global economy is facing massive inflation and rising interest rates, platforms that make most of their revenue through ads such as Facebook and Google have been deeply impacted, as advertisers are cutting promotional budgets to address the rising cost of business.

Zuckerberg claims responsibility

Meta's CEO claimed responsibility for his wrong anticipation that the e-commerce business and online activity will continue post-pandemic at the same rate as during the Covid lockdowns.

"I got this wrong, and I take responsibility for that."    

The profits of the US giant decreased by 52% last quarter to $4.4 billion compared to the same period last year.

Staff cutbacks are noticeable in Silicon Valley after the largest firms engaged in hiring practices at a breakneck pace during the pandemic. Tom Allison, the head of the Facebook app, issued a document titled "Why is Hiring So Hard Right Now?" in May 2021.

Read more: US: Unemployment benefits applications generally indicate layoffs

Allison expressed concern about a "major supply and demand imbalance between our hiring needs and talent availability."

As the global economy is facing a deep recession and skyrocketing inflation rates, the digital-ad market is in disarray, and the tone of several major IT leaders has shifted dramatically.

  • Facebook
  • employee layoffs
  • Whatsapp
  • USA
  • Instagram
  • Recession
  • Meta

Most Read

Pro-"Israel" conservative Charlie Kirk shot during Utah speech

American far-right activist Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
'Israel’s' Qatar strike backfires, fueling diplomatic fallout
Politics

'Israel’s' Qatar strike backfires, fueling diplomatic fallout

'Israel' committing genocide in Gaza, UN Commission declares
Politics

'Israel' committing genocide in Gaza, UN Commission declares

Rubio supports Gaza offensive, warns few days left for diplomacy
Palestine

Rubio supports Gaza occupation, warns of tight window for deal

US adds Colombia to drug list, drawing Petro’s rebuke
Politics

US adds Colombia to drug list, drawing Petro’s rebuke

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS