Facebook parent company Meta lays off 11,000 employees, including as many as 650 in the UK

9 November 2022, 14:32

The parent company of Facebook has made 11,000 people redundant, including as many as 650 in the UK.

Mark Zuckerberg, Meta founder and chief executive, confirmed on Wednesday that 13% of the company's 87,000 staff would be laid off because of the "macroeconomic downturn, increased competition, and ads signal loss".

Some 3,000 people work in Meta's European headquarters in Dublin, with about 5,000 in the UK. If job cuts are made proportionally, that means 400 jobs could be lost in Ireland and about 650 in the UK.

Mr Zuckerberg apologised in a message to staff, saying: "I got this wrong and I take responsibility for that."

He added in a statement that the cuts were "some of the most difficult changes we've made in Meta's history."

"We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1," he said.

"I want to take accountability for these decisions and for how we got here. I know this is tough for everyone and I'm especially sorry to those impacted."

Meta, which also owns WhatsApp and Instagram, saw its share price plummet in October, amid scepticism about the company's costly 'metaverse' virtual reality project.

The company's apps are also facing stiff competition from tech challengers like TikTok.

Mr Zuckerberg added: "We would not be where we are today without your hard work, and I'm grateful for your contributions. To those who are staying, I know this is a difficult time for you, too.

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"Not only are we saying goodbye to people we've worked closely with, but many of you also feel uncertainty about the future.

"I want you to know that we're making these decisions to make sure our future is strong."