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Meta to retrench thousands of employees
Meta founder and CEO Mark Zuckerberg has confirmed that the media group will be retrenching employees from Wednesday morning.
Source: www.unsplash.com
According the The Wall Street Journal Zuckerberg told this to executives on Tuesday.
Meta is the parent company of Facebook, Instagram and WhatsApp.
The Wall Street Journal reported that thousands of employees are expected to be retrenched after Zuckerberg admitted he overestimated growth of Meta which has led to overstaffing.
This comes after Twitter let go of thousands of employees last week after Tesla founder Elon Musk took over the social network.
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