Goal: Mark Zuckeberg’s wrong prediction results in 11,000 layoffs

Meta is firing 11,000 people, or 13% of its workforce. This was announced by Mark Zuckerberg in a message to employees made public via a press release. He recalls that this mass layoff was expected.

The entrepreneur, who recently unveiled the ambitious Meta Quest Pro, says he will “Take responsibility for his decisions and how we got there”. “I know it is difficult for everyone and I am particularly sorry for those affected”he said.

“I was wrong”

In his message, Mark Zuckerberg gives some explanations.

At the start of Covid, the world quickly turned to the internet, and the rise of e-commerce has led to massive revenue growth. Many people had predicted it would be a permanent acceleration that would continue after the pandemic ended. I did the same and so I decided to significantly increase our investments. Unfortunately, things did not go as I had anticipated. Not only has e-commerce returned to previous trends, but the macroeconomic recession, increased competition, and the loss of advertising meant that our revenue was much lower than I had anticipated. I was wrong and I take responsibility for it.

The Meta boss then explains that he wants to focus his group’s efforts on top priority activities, particularly around artificial intelligence, advertising, and the long-term vision of the metaverse (called the metaverse by the company).

He also describes some actions taken to limit the company’s expenses, but states that this was not enough and that he had to resign himself to firing 11,000 people.

A support for former employees

The parent company of Facebook, Instagram, WhatsApp and Messenger also ensures that it will take the necessary measures to provide all the necessary information to the employees concerned.

To give you an idea, Mark Zuckerberg provides some details on this Meta layoff process in the United States. It therefore promises severance pay (at least 16 weeks ‘salary), reimbursement of unused paid leave, coverage of health care expenses (6 months), three months’ support to find work or even administrative assistance for immigrant workers. who need a visa.

Finally, Mark Zuckerberg tells himself “thankful” to those who leave the company “For everything they have done to carry out our mission”.