Tech Layoffs In 2022: 23 Companies Slashing Their Workforce
Joseph F. Kovar
A review of the layoffs that have hit some major tech companies and startups alike over the past few months — from Oracle and Intel to Avaya, Meta and Cybereason.
Meta: Laying Off 11,000 People
Facebook parent Meta in November said it plans to lay off over 11,000 employees, or about 13 percent of its worldwide workforce, as it faces an economic downturn. The layoffs are the first mass layoffs in the company’s history, and come after the company’s share prices fell over 70 percent in 2022.
In a letter to employees and released by the Menlo Park, Calif.-based company, Meta CEO Mark Zuckerberg wrote, “Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. I’ve decided to reduce the size of our team by about 13% and let more than 11,000 of our talented employees go. We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1.”
Zuckerberg wrote that he is taking accountability for the decision. “I know this is tough for everyone, and I’m especially sorry to those impacted,” he wrote.