Meta layoffs (November 2022)
Meta (then Facebook) announced 11,000 layoffs, about 13% of its workforce, after years of rapid hiring. CEO Mark Zuckerberg took responsibility for overexpansion.
Affected employees received severance and job placement support; stock rallied after the announcement.
Set a precedent for tech companies reining in headcount during economic downturns, with many following suit.
Like Uber now, Meta executed a large reduction while managing legal and reputational risks around WARN Act compliance.
