Facebook Parent Meta to Cut Over 11,000 Jobs; Zuckerberg Concedes He Got Trends ‘Wrong’

Facebook Parent Meta to Cut Over 11,000 Jobs; Zuckerberg Concedes He Got Trends ‘Wrong’
Mark Zuckerberg speaks in New York City on Oct. 25, 2019. Drew Angerer/Getty Images
Tom Ozimek
Updated:

Facebook parent company Meta will cut more than 11,000 jobs, reducing its workforce by about 13 percent, as it faces a revenue crunch as advertisers pull back amid high inflation and a wobbly economy.

Meta CEO Mark Zuckerberg announced the cuts in a Nov. 9 blog post, in which he took the blame for overestimating the company’s growth prospects and overextending investments.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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