Africa Business World 

Facebook-owner Meta to cut 11,000 staff

Mr Zuckerberg said the company would focus on high-priority growth areas, like artificial intelligence, advertising, and “our long-term vision for the metaverse”.

Meta will also cut costs elsewhere – including reducing its spending on buildings and offices, and increasing desk-sharing.

Affected Meta employees will receive an email soon, he said, and will have an opportunity to ask questions.

US employees will receive redundancy payments worth 16 weeks pay plus a week for every year worked. Additional benefits will also include continuing to provide family health insurance for six months.

Support outside the US will be similar, but there will be a separate redundancy process to take into account local employment laws.

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