Mark Zuckerberg’s surprise Message to Meta Employees

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11,000 jobs are lost at Facebook parent firm Meta, the latest indication of a digital slump.

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According to Mark Zuckerberg, the firm overhired during the pandemic because they thought their ultra-rapid expansion would continue.

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Over 13% of Meta, which had more than 87,000 employees as of September 30, will be losing their jobs.

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According to Zuckerberg, the increase in e-commerce and web traffic that occurred during the Covid shutdown was part of a permanent acceleration.

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Given the quantity of access to sensitive information, we decided to block access to the majority of Meta systems for those leaving today.

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Employees would receive 16 weeks of base salary as severance, plus an additional two weeks for each year of service.

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The business has invested billions of dollars in the "metaverse," a virtual reality utopia where people may live, work, and play online.

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During the pandemic, Meta, like many other tech companies, went on a hiring spree.

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The layoffs at Meta come after those at Twitter last week, when that business reduced its employees by almost 50% as a result of its sale to Elon Musk.

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