Facebook parent Meta layoffs thousands of workers

Mark Zuckerberg,

Meta’s chief executive, said last month that many “teams will stay flat or shrink over the next year” as his company faces economic challenges. Meta has been struggling financially for months and has been increasingly clamping down on costs. The Silicon Valley company, which owns Facebook, Instagram, WhatsApp and Messenger, has spent billions of dollars on the emerging technology of the metaverse, an immersive online world, just as the global economy has slowed and inflation has soared.