Mark Zuckerberg announced the dismissal of 11 thousand employees of Facebook, Instagram and WhatsApp

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Determined to reduce the size of its workforce due to a drop in its turnover and profits: “I take responsibility for these decisions and how we got here”, said the CEO

Mark Zuckerberg announced the dismissal of 11 thousand employees of Facebook, Instagram and WhatsApp

The Meta logo is seen in this illustration taken on August 22, 2022. REUTERS/Dado Ruvic/File

Meta, the parent company of Facebook, announced this Wednesday the layoff of 11,000 employees, which corresponds to around 13% of its strength.

“Today I share with you some of the most difficult changes we have made in the history of Meta ”, announced the group's CEO, Mark Zuckerberg, in a message addressed to employees.

“I have decided to reduce the size of our team by approximately 13% and separate myself from 11,000 of our talented employees,” he added.

You may be interested in: What is the multimillion-dollar sum that was invested in the metaverse and what doubts do experts have about its purpose?

This is the first major social plan in the history of the American group of technology.

Mark Zuckerberg announced the dismissal of 11 thousand employees of Facebook, Instagram and WhatsApp

Mark Zuckerberg attends the annual Munich Security Conference in Germany, on February 15, 2020. REUTERS/Andreas Gebert/File

“I want to take responsibility for these decisions and how we got here. I know this is hard for everyone, and I'm especially sorry to those affected,” Zuckerberg said.

As of September 30, Meta had about 87,000 employees /b>worldwide on its different platforms, which include the social networks Facebook and Instagram, as well as the messaging platform WhatsApp.

The company recently published disappointing quarterly results, with a drop in their turnover and profits, as well as a stagnation in the number of users.

Some of the problems are specific to Meta, while others are linked to the economy and technology.

Mark Zuckerberg announced the dismissal of 11 thousand employees of Facebook, Instagram and WhatsApp

The Meta Platforms logo is seen in Davos, Switzerland, on May 22, 2022. REUTERS/Arnd Wiegmann/Archive

Meta has worried investors by pouring more than 10 billion dollars a year into the “metaverse”while away from social networks. Zuckerberg predicts that the metaverse, an immersive digital environment, will end up replacing cell phones as the main way of using technology.

Meta and its advertisers are preparing for a possible recession. In addition, they are challenged by Apple's privacy tools, which make it difficult for social media platforms like Facebook, Instagram and Snap to track their users without consent and serve them ads based on their tastes.< /p>

Competition from TikTok also poses a growing threat as younger users prefer the video-sharing app to Instagram, which is also owned by Meta.

Mark Zuckerberg announced the dismissal of 11 thousand employees of Facebook, Instagram and WhatsApp

An image of Elon Musk is seen on a cell phone placed over printed Twitter logos in this illustration taken on April 28, 2022. REUTERS/Dado Ruvic/File

The technology industry is currently going through a Severe recession and several large companies have announced massive layoffs.

Twitter's new owner, Elon Musk, fired half of his staff last week.

The businessman tweeted that there was no choice but to cut jobs “when the company is losing over$4 million a day”, although he did not give more details about the losses.

These platforms, whose business model is based on advertising, suffer particularly from advertisers' budget cuts, affected by inflation and the rise in interest rates.

(With information from AFP and AP)

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