Saturday, February 24

Facebook Parent Company Cuts One in Eight Jobs Worldwide

Meta Platforms is cutting more than 11,000 jobs worldwide, the parent company of Facebook, Instagram, and WhatsApp has announced. That amounts to 13 percent of all jobs at the company.

It is the first time there has been a major layoff in Meta’s existence. The company is suffering from advertisers who spend less money on online advertising and higher costs due to increased interest rates and high inflation.

In addition to the layoffs, Meta has also announced a job freeze until the end of the first quarter of next year.

Meta Platforms also has an office in Amsterdam. It is not immediately clear how many jobs will be cut here.

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