Facebook to lay off 11,000, Twitter aces all staff in Africa

Meta, parent company Facebookplans to lay off 13 percent of its workforce — or more than 11,000 workers — in what could be the largest layoff cycle in tech history, just as Twitter is axing its entire staff in Africa just days after opening offices in Ghana.

CEO Mark Zuckerberg revealed the news in a letter sent employees on Wednesday, calling it “some of the most difficult changes we’ve made in Meta’s history.”

Zuckerberg calls layoffs ‘some of the toughest changes we’ve ever made in record’

“Today I’m sharing some of the most difficult changes we’ve made in Meta’s history,” Zuckerberg said in the letter. “I have decided to reduce our team by 13 percent and let more than 11,000 of our talented employees go. We are also taking several additional steps to become a leaner and more efficient company by cutting discretionary spending and extending the hiring freeze through the first quarter.”

As of Wednesday morning, Meta’s shares were up 7.7 percent, according to CBNC.

The news comes amid a rough time for Facebook’s parent company Meta, which spooked investors after reporting its upcoming fourth-quarter earnings in late October, sending shares tumbling nearly 20 percent.

Investors are concerned about Meta’s rising costs and expenses, which rose 19 percent year over year in the third quarter to $22.1 billion. Their sales also fell four percent to $27.71 billion in the quarter as operating income fell 46 percent from a year earlier to $5.66 billion.

“I want to take responsibility for these decisions and how we got here.” I know this is difficult for everyone, and I feel especially sorry for those affected,” Zuckerberg said.

Twitter is experiencing similar cutbacks, closing offices in Africa following a Musk buyout

Meanwhile on Twitter, things aren’t going much better, with the entire African headquarters being unceremoniously let go.

CNN’s Larry Madowo reports that he received the layoff notice sent to employees at one of Twitter’s African offices, located in Accra. The office opened a few days ago.

The outlet reports that “unlike in the United States, (the resignation letter) does not offer next steps or termination.”

Musk had previously done away with much of the middle management at the company’s San Francisco headquarters, preferring to have more programmers and fewer managers in his speech.

In the US, Twitter employees have already filed a class-action lawsuit alleging that Twitter violated federal and California law by not giving enough notice for the layoffs, which have affected about half of the company’s workforce. CNBC reports.

Twitter faces lawsuit from terminated US workers, fires entire Japanese office worker

On Tuesday, he also shut down offices in Japan, according to Japan Times.

Japan is the tech giant’s second largest market, where the platform is used by government agencies to deliver messages to the public during natural disasters, and has been doing so since the Great East Japan Earthquake and Tsunami in 2011.

Musk’s $4.4 billion purchase of the social network and his desire to charge money for the Twitter Blue subscription service has rattled his user base, with many balking at the idea of ​​an extra $8 per tweet.

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