Why Facebook-owner Meta want sack 11,000 workers
Wia dis foto come from, Getty Images
Meta, di company wey own Facebook, Instagram and WhatsApp, don explain why dem go sack 13% of dia workforce.
Dis mass sacking na di first for di history of company and e mean say 11,000 employees, worldwide out of 87,000, go lose dia jobs.
Meta chief executive Mark Zuckerberg say di cuts na "di most difficult changes Meta don make for im history".
Dis news dey come afta Twitter do dia own major lay-offs, wey sack about half dia staff, and oda tech firms too.
"I know e tough for everybody, and I dey very sorry to those affected," E write for statement.
Oga Zuckerberg blame massive long-term expectations for growth based on di firm rise in revenue during di pandemic for dis.
"Many pipo bin predict a permanent acceleration," E write, "I bin tink so too, so I make di decision to increase our investments."
Instead e say "macroeconomic downturn" and "increase competition" cause di revenue to dey much lower than expected
End of Di one wey oda users dey read well well
"I get dis one wrong, and I take responsibility for dat," e add.
Di announcement of job cuts bin dey expected.
Oga Zuckerberg tell hundreds of Meta executives of di plans on Tuesday, di Wall Street Journal bin report.
Dia plans
Oga Zuckerberg say di company go focus on high-priority growth areas, like artificial intelligence, advertising, and "our long-term vision for di metaverse".
Meta go also cut costs elsewhere - including to reduce dia spending on buildings and offices, and increasing desk-sharing.
Affected Meta employees go soon receive email ontop di mata, e say and opportunity go dey, to ask questions.
US employees go receive redundancy payments wey dey up to 16 weeks pay plus a week for every year dem bin don work for di company. Additional benefits go also include continuing to provide family health insurance for six months.
Support outside tdiUS will go dey similar, but dem go get a separate redundancy process to take into account local employment laws.
Analysis by Zoe Klienman Technology editor
Dis na di second round of big tech company wey dey announce sack in a week - but di way wey Meta write dia statement different to Elon Musk defence of im decision to cut half of Twitter workforce on Friday.
While Oga Musk for Twitter say di company get no choice because dem bin dey lose millions of dollars every day, Mark Zuckerberg statement bin show say e dey very sorry. Im take responsibility, and e say sorry.
If you know Oga Zuckerberg you go know say dis dey uncharacteristic – Di couple dey known to be "man of di pipo" and im focus normally na on work. Im former chief operating officer Sheryl Sandberg no dey again wey dey help am fix things.
Im dey put everything and dat, of im company, for di creation of di metaverse - a virtual world wey im believe say we go spend our work and play time for future.
E fit take five or 10 years before dis go happen. If im dey right, Meta go bounce back and, im hope to, become king of di new internet generation.
