Meta Platforms CEO Mark Zuckerberg (pictured) revealed it would cut around 13 per cent of its global workforce, a move widely anticipated following recent financial struggles and a shareholder backlash.
In a message to Meta Platforms staff, the under-fire executive stated more than 11,000 jobs were to go today and the company had extended a freeze on recruitment into Q1 2023, albeit with some exceptions.
Meta Platforms planned to inform staff if they were being culled by email, but Zuckerberg also noted those affected would be unable to access company systems due to the amount of “sensitive information” involved.
Staff cuts span all sectors of the social media company, but the recruiting team will be disproportionately affected due to the hiring freeze.
Zuckerberg stated the company would also restructure its business teams “more substantially” going forward.
The executive noted the layoffs were a “last resort” after efforts to “rein in other sources of cost”.
“Overall, this will add up to a meaningful cultural shift in how we operate.”
Reuters reported the job cuts were the first in Meta Platform’s 18-year history.