The downsizing, which will affect 13% of the staff, is the first in 18 years. Zuckerberg says that he was wrong to increase investments during the online boom of the pandemic. “Unfortunately, this did not go as expected. I was wrong and I take responsibility for it,” he added.
Euskaraz irakurri: Meta konpainiak Facebook, WhatsApp and Instagrameko 11,000 langile kaleratuko ditu
The Meta company, chaired by Mark Zuckerberg and owner of social networks Facebook, WhatsApp and Instagramamong others, has announced that it will fire the 13% of its staff (some 11,000 employees), according to a statement published on Tuesday on its website and signed by Zuckerberg himself.
This is the first mass layoff in the 18-year life of the technology giant. In addition, it has also specified that it will not make any contracts in the first quarter of 2023. Those affected will receive an email to inform you of your situation.
Zuckerberg assures in his statement that this decision is one of the most “difficult” in the company’s history and assures that he assumes responsibility.
The pandemic It caused a significant increase in electronic commerce and a “huge growth in revenue,” the statement said. “Many people predicted that this would be a permanent acceleration that would continue even after the pandemic ended. I did too, so I made the decision to significantly increase our investments. Unfortunately, this did not turn out as expected. I was wrong and I take responsibility for it“, Add.
Now the recession macroeconomic growth, increased competition and the loss of advertisers have caused, according to Zuckerberg, “that our income is much lower than I expected”. Thus, the company will focus on reducing costs and prioritizing some units such as the one oriented towards the Artificial Intelligence engine.
Source: Eitb
Kingston is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
