Meta to Lay Off 11,000 Employees, Reducing Workforce by 13 Percent

Meta is decreasing its workforce by around 12.6 percent in a layoff that will affect 11,000 of its employees, making it the largest tech layoff this year.Meta CEO Mark Zuckerberg said this in an internal memo obtained by Reuters:
“Not only has online commerce returned to [pre-covid] prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected,” Zuckerberg said. “I got this wrong, a