Mass Layoff in Meta – Around 11,000 Employees Fired Out! As already reported, Meta has laid off more than 11,000 of its employees. Meta, the parent company of world-leading social networking site Facebook, said it was laying off 13 percent of its employees. Accordingly, the company’s Chief Executive Officer Mark Zuckerberg announced that the employees who will be laid off will receive an email on the morning of November 9.
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As such, more than 11,000 employees of Meta have been laid off today. Meta announced the layoffs as the company struggles with rising costs and a weak advertising market. Meanwhile, Mark Zuckerberg thinks the company will go down growth paths with the AI discovery engine, advertising and commerce platforms, and its Metaverse project.
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Meta has now announced that employees affected by the layoffs will be paid 16 weeks of basic pay and two additional weeks for each year of service as part of the severance package and all remaining paid time off. However, terminated employees may receive up to six months of medical expenses. Now those who have been laid off will get their rights on November 15, meta announced.