From PC Mag: Meta initiated a fresh round of layoffs on Wednesday. Around 8,000 employees, or about 10% of the company, are impacted.
Multiple employees have posted about the job cuts on social media, while Business Insider obtained a letter Meta shared with its laid-off employees. Those who were let go will get 16 weeks of severance plus two weeks for every year they worked at Meta, minus a notice period. They'll also receive 18 months of COBRA health insurance for themselves and their families.
In a memo to staff, CEO Mark Zuckerberg said he is "optimistic about everything we're building to give billions of people the power to express themselves and connect with the people they care about. I'm also optimistic about delivering personal superintelligence to everyone."
Meta is "transforming our company to make sure it will always be the best place for talented people to have the greatest impact," he added, before saying, "We do not expect other company-wide layoffs this year."
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