Mark Zuckerberg to layoff 10% of Meta’s 87,000 staff

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Meta CEO, Mark Zuckerberg is set to lay off 10 percent of Meta’s staff as the company embarks on its first mass job cuts.

The 38-year-old is planning to sack about 8,700 employees from the company after a slump in profits and losing nearly $80billion from their value.

According to sources, Mark Zuckerberg informed its executives in a meeting that broad cuts will be announced, with recruiting and business teams to face losses.

Employees are expected to receive a company-wide email about the termination of their contract at 6am Eastern time on Wednesday.

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