Meta Layoff Update: Zuckerberg Says Sorry to 11000 Meta Employees

Meta layoff has affected 13% (11,000) of its workforce. In a message to the employees, Zuckerberg put the blame on some of his decisions and economic conditions.

Outgoing employees will get 16 weeks of base + two additional weeks for every year of service, full remaining PTO and other benefits.

Zuckerberg said Meta will shrink company's real-estate footprint and encourage desk-sharing. The hiring freeze will continue till early 2023 with a few exceptions. Read the full letter on the source link below.