Mark Zuckerberg has told the executives of Meta Platforms that the planned lay offs would begin tomorrow.
Zuckerberg took the blame for the company’s misfortunes, telling executives he was responsible for the company’s missteps and its overstaffing, according to a Wall Street Journal report.
The Facebook and Instagram parent reported it had 87,000 employees in September.
The CEO has been widely criticized for his decision to invest billions of dollars in the metaverse. So far this year Meta’s metaverse division has lost nearly $10 billion and Meta has said it wanted to trim costs by 10%.