Meta, the owner of social media companies such as Facebook, Whatsapp and Instagram, laid off 11 thousand employees today. The owner of the company, Mark Zuckerberg, made the dismissal announcement in an email to his employees.

Zuckerberg sent this email to employees; “I've decided to reduce the size of our team by about 13 percent and lay off more than 11,000 of our talented employees. We're also taking a number of additional steps to become a leaner and more efficient company by reducing discretionary spending and freezing hiring until the first quarter.”

Mark Zuckerberg Made Wrong Investments

Mark Zuckerberg, the owner of Meta and the founder of Facebook, stated that at the beginning of the Covid-19 epidemic, e-commerce grew rapidly, causing an increase in revenue, and that he made large investments, predicting that this increase would continue. After the epidemic. But Zuckerberg's expectations did not come true.

In Zuckerberg's statement; “Unfortunately, it didn't turn out the way I expected. Online commerce has not only returned to previous trends, but the macroeconomic downturn, increased competition and loss of advertising signal have also caused our revenue to be much lower than I expected. I misunderstood this and I take responsibility for it.” used the phrases.

Company Closes Its Offices

Zuckerberg stated that the number of real estate, such as the company's office buildings, has been reduced, budgets have shrunk, costs have been reduced, resources have been shifted to a few priority areas, but all these are not enough. He also stated that the dismissal announcement will be made via e-mail..