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Rebooting the system

As tech lay-offs spread, Meta sacks 11,000 workers

November 10, 2022

Mandatory Credit: Photo by JOHN G MABANGLO/EPA-EFE/Shutterstock (13617239d)Tourists get their photo taken in front of the Meta billboard at the headquarters of Meta Platforms Inc., formerly named Facebook, Inc., in Menlo Park, California, USA, 09 November 2022. Chief Executive Mark Zuckerberg told company executives that Meta will begin laying off employees.Meta Chief Executive Zuckerberg announces coming layoffs, Menlo Park, USA - 09 Nov 2022
On November 9th Meta said it would fire 11,000 people, or 13% of its workforce. It is not the only tech firm to give its workers the boot, as the sector goes through a harsh downturn. A week earlier Stripe, a fintech firm, announced it would cut 14% of its staff; Twitter’s new owner, Elon Musk, fired half its personnel. According to Crunchbase, a data provider, more than 60,000 American techies have been shown the door this year.
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