The Latest Breaking News from Meta

The CEO accused tech companies of predatory hiring and said laid-off employees were only attending meetings

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MENLO PARK, California — Facebook owner Meta Platforms said Tuesday it has decided to chop another 10,000 jobs and hold off on filling thousands of open positions in a fresh round of brutal layoffs for the Bay Area’s tech sector.

The latest cuts come after Facebook parent company Meta let go of 13 per cent of its workforce last November as companies across the tech industry struggle to remain competitive as they cut costs

Meta is slashing jobs in a bid to recover from losses and invest in the ‘metaverse’.

Meta CEO Mark Zuckerberg announced the company is cutting another 10,000 jobs after it laid off 11,000 workers late last year.

Meta stock jumped Tuesday as the social media giant announced it would cut about 10,000 jobs over the next few months.

It comes after it made 11,000 cuts just four months ago

Here it is. Facebook parent Meta just announced further cost-cutting measures after employees have spent weeks bracing for more pain.