Nov 7, 2022
Facebook owner Meta expected to announce major job losses
Facebook's parent company Meta is reportedly planning to begin large-scale lay-offs this week that will affect thousands of employees. Meta has about 87,000 employees worldwide across its different platforms, which include Facebook, Instagram and WhatsApp. Meta's shareholder Altimeter Capital Management had previously said, in an open letter to Mr Zuckerberg, that the company needs to streamline by cutting jobs and capital expenditure. It's the reason platforms like Meta are free of charge for people to use. Public companies like Meta have to release details about their finances every three months.
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