Jakarta –
The storm of layoffs (layoffs) employees of tech companies don’t stop Twitterthis Half did the same. A total of 11,000 employees were laid off, Mark Zuckerberg he immediately apologized for the decision.
“Today I share some of the most difficult changes we’ve made in Meta’s history,” Zuckerberg said in a letter sent to employees. “I have decided to reduce our team size by approximately 13% and let our more than 11,000 talented employees go.”
Like most tech companies, Meta aggressively recruited new employees during the pandemic to cope with the rise in social media usage as users have to stay at home during the lockdown. But business fell this year as advertisers and consumers cut spending due to rising prices for goods and services, as well as rapidly rising interest rates.
“Not only has online trading returned to previous trends, but the macroeconomic recession, increased competition and the loss of advertising signals meant that our revenue was much lower than I expected,” said the CEO of Half.
“I want to take responsibility for this decision and how we got here. I know it is difficult for everyone and I especially apologize to those affected.” He continued.
“This is a sad time and there is no other way around it. To those who are gone, I want to thank you once again for everything you have put in this place,” added Zuck.
The father of two assures that the affected employees will receive 16 weeks of pay plus an additional two weeks for each year of service. Meta will cover health insurance for six months.
Meta also bears the cost of health care for employees and their families for six months. Affected employees will also receive their assigned shares on November 15.
In addition to layoffs, companies will also reduce office space, reduce discretionary spending, and extend the hiring freeze during the first quarter to control spending.
The company did not disclose the costs incurred for the layoffs, but said the figure was included in the previously announced spending forecast for 2022 of between $ 85 and $ 87 billion.
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