Facebook-owner Meta to cut 13% of its workforce

Meta has announced that it will cut its workforce.

A total of 11,000 employees are going to be laid off by the company.

Some of the most difficult changes we've made in Meta's history have been made.

In the past few months, major lay-offs have taken place at various tech firms.

He apologized to those who were impacted in the statement.

Long-term expectations for growth were blamed on the firm's rise in revenue during the Pandemic.

He made the decision to increase our investments after many people predicted a permanent acceleration.

He said the revenue was lower than expected.

He took responsibility for getting this wrong.