A car passes Facebook’s new Meta logo on a sign at the company headquarters in Menlo Park, Calif. Tony Avelar/AP
Tony Avelar/AP
Facebook parent company Meta announced extensive layoffs on Wednesday, shedding 11,000 jobs, or about 13% of its staff, amid an industrywide slowdown that has rattled Silicon Valley in recent months.
The cuts represent the first sweeping workforce reduction the company has undertaken since it was founded in 2004 and the latest sign that once-invincible tech behemoths are in a moment of reckoning.
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