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, from a worldwide headcount of 87,000, losing their jobs.

In the note on Wednesday, Zuckerberg said Meta had overinvested at the start of Covid, banking that the increase in online activity would continue and accelerate even after the coronavirus pandemic ended.

“Unfortunately, this did not play out the way I expected,” he said. “Not only has online commerce returned to prior trends but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than I’d expected. I got this wrong, and I take responsibility for that.”

Zuckerberg said of the job cuts: "While we're making reductions in every organisation across both Family of Apps and Reality Labs, some teams will be affected more than others.

"Recruiting will be disproportionately affected since we're planning to hire fewer people next year.

"We're also restructuring our business teams more substantially."

Meta's European headquarters are based in Dublin, where according to local reports it directly employs 3,000 people and many more contractors.

According to a Companies House filing, Meta employed more than 5,000 people in the UK as of December 2021.

But Meta has so far declined to release the number of redundancies it will make in either country.

The scale of the redundancies is massive but is proportionally far lower than the chaotic dismissals at Twitter, where Elon Musk led a company-wide effort to cut 50% of the workforce in a matter of weeks. Musk’s aggressive job losses were almost immediately hit with accusations of breaches of employment law, for insufficient notice and a failure to ensure that the axe was wielded equitably.

Z2u.com is equipped with the most professional staff. If players have any doubts when they buy Facebook Account, they can contact 24/7 Live Chat at any time. Z2u is the best place to buy cheap and safe Facebook Account. Now if you have this demand, please contact us in time!