more than 11,000 meta employees laid off today. A tough day
reports surfacing in the company announcing layoffs this
week and Mark Zuckerberg taking responsibility for them,
the facebook and instagram parent company,
issuing a weak guidance after its latest quarter
amid significant losses in its reality labs unit
and the stock is up about 5.6% in the wake of their structuring news.
Well, in a letter to employees,
Zuckerberg writing that he was sharing some of
the most difficult changes in the company's history,
letting go of 13% of the workforce,
Zuckerberg acknowledging the difficult situation and held himself accountable
for the decision and how the company arrived here,
adding that the company will implement further cost cutting measures
like extending its hiring freeze and reducing its office space.
Well, Zuckerberg noting that the layoffs affect its reality labs division,
responsible for VR and air hardware and software as it pushes into the metaverse.