Why Meta cuts 11,000 jobs?

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Meta Platforms Inc said on Wednesday it would cut more than 11,000 jobs, or 13% of its workforce, as the Facebook parent doubled down on its risky metaverse bet amid a crumbling advertising market and decades-high inflation.

The mass layoffs, one of the biggest this year and the first in Meta’s 18-year history, follow thousands of job cuts at other tech companies including Elon Musk-owned Twitter, Microsoft Corp and Snap Inc.

 

 

 

 

 

 

HIDAYAT TV Official
www.hidayattv.uk

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