Facebook-owner Meta to cut 11,000 jobs

Meta, which owns Facebook, Instagram and WhatsApp, has announced that it will cut 13% of its workforce.

The first mass lay-offs in the firm's history will result in 11,000 employees, out of a worldwide headcount of 87,000, losing their jobs.

Meta's chief executive, Mark Zuckerberg, said the cuts were "the most difficult changes we've made in Meta's history."

Zuckerberg blamed massive long-term expectations for growth based on the firm's rise in revenue during the pandemic.

The news follows major lay-offs at Twitter, which cut about half its staff, and other tech firms.