Bloomberg Law
Nov. 9, 2022, 8:47 PM

Meta to Cut 11,000 Jobs; Zuckerberg Says ‘I Got This Wrong’ (3)

Kurt Wagner
Kurt Wagner
Bloomberg News

Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs, calling himself responsible for the first major round of layoffs in the social media giant’s history.

The reductions, equal to about 13% of the workforce, were disclosed Wednesday in a statement. Zuckerberg then addressed employees, asking them to thank those who lost their jobs, and noting that employees outside North America will face uncertainty while the company sorts out who is affected, according to people familiar with the matter.

The company, which owns Facebook and Instagram, will also extend its hiring freeze ...