Facebook parent company Meta is laying off 11,000 employees, about 13 percent of its corporate workforce. “At the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth,” Meta CEO Mark Zuckerberg wrote in a blog post to employees. “Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I did too, so I made the decision to significantly increase our investments. Unfortunately, this did not play out the way I expected.”
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