Facebook parent Meta cuts 11,000 jobs, 13% of workforce

Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday. The job cuts come just a week after widespread layoffs at Twitter under its new owner, billionaire Elon Musk.There have been numerous job cuts at other tech companies that hired rapidly during the pandemic. Zuckerberg as well said that he had made the decision to hire aggressively, anticipating rapid growth even after the pandemic ended.