Facebook parent Meta cuts 11,000 jobs, 13% of workforce Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday.Zuckerberg said that he had made the decision to hire aggressively, anticipating rapid growth even after the pandemic lockdowns ended.Although Meta has been hurt by broader economic trends that have curtailed spending on digital ads, the company’s challenges have been compounded by the rise of TikTok at the same time Zuckerberg is pouring billions into a metaverse that so far seems like a distant mirage, said Forrester Research analyst J.P. Gownder.This (mass layoff) is only a stopgap.” Zuckerberg said Meta is cutting costs across its business, but he added that this alone won’t big costs in line with its revenue growth.Zuckerberg told employees Wednesday that they will receive an email letting them know if they are among those being let go."