Labor Relations
Meta lays off 11,000 employees — 13% of workforce
Nov 9, 2022
Largest mass layoff in Meta history. CEO cited macroeconomic downturn, increased competition, and ads signal loss. Employees received 16 weeks base severance plus two additional weeks per year of service.
Key Details
Agency
SEC Filing (8-K)
Date
November 9, 2022
Severity
Critical
Location
Corporate-wide
Domain
Labor Relations
Primary Source
https://www.sec.gov/Archives/edgar/data/0001326801/000132680122000116/nov092022exhibit991.htm
Direct link to original government or public record