Unfortunately, this did not play out the way I expected. I did too, so I made the decision to significantly increase our investments.
Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I know this is tough for everyone, and I’m especially sorry to those impacted.Īt the start of Covid, the world rapidly moved online and the surge of e-commerce led to outsized revenue growth. I want to take accountability for these decisions and for how we got here. We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1.
I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. Mark Zuckerberg just shared the following with Meta employees:
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