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.
