Home » Business » Breaking: Meta to lay off 11,000 staff
meta

Breaking: Meta to lay off 11,000 staff

Facebook owner Meta said it will lay off 11,000 staff, according to a  statement.

Advertisement

Earlier,  IT News Nigeria noted that  Newspaper reports have suggested that Tech conglomerate Meta plans to initiate major job cuts beginning next week.

The upcoming “large-scale layoffs” could become the largest round of tech job cuts and could affect “thousands” of people, the newspaper said on Sunday, without specifying exactly how many of over 87,000 Meta employees could get fired.

Sources told the newspaper that the announcement of the job cuts is expected on Wednesday and company officials have already told Meta employees to cancel nonessential travel starting next week.

Reports have it that Meta CEO Mark Zuckerberg’s net worth has plummeted by $70 billion so far this year, bumping him down to 20th richest person in the world, estimates show. Zuckerberg started the year with a $125 billion fortune, according to Bloomberg’s Billionaires Index.

Share This:

READ ALSO  Communication Tax Benefits Can Erase Telecoms Gains - ATCON

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Konga Jara: 12 lucky shoppers enjoy VIP treatment, exclusive mentorship by Ekeh, Zinox boss, others

CONTRIBUTED: Advertisement It was a weekend ...

MainOne, an Equinix Company’s MDXi Appolonia Achieves TCCF, Now Most Certified Data Center in Ghana

MDXi Appolonia, the data center subsidiary ...

How KongaPay saved my life amid Naira scarcity – Trader

CONTRIBUTED: Advertisement A petty trader, Mrs. ...

monieworx® enables 3 SMEs raise N100M in 10 days through regulation crowdfunding, Nigeria’s first

*Community investing by small-ticket retail investors ...

Curacel bags $3m new funding

Curacel says secures $3 million seed ...

%d bloggers like this:
Skip to toolbar