Founder and CEO Mark Zuckerberg announced a 13% reduction in Facebook's workforce by laying off 11,000 employees.

Around 3 a.m. PST with staff access "to most Meta systems" removed.

Facebook CEO Mark Zuckerberg blamed the pandemic in a company-wide memo,

CVID-19, when lockdowns meant people were stuck at home, led to digital growth and an uptick in e-commerce

A "permanent acceleration" that persisted even after the pandemic had ended appeared to be the case.

The layoff will be announced soon and employees will receive severance packages, according to Zuckerberg.

A six-month health insurance plan in the U.S. Immigration specialists would assist visa holders

Meta employees working internationally would be assisted according to local employment laws.

In a memo, Zuckerberg said, "I predicted this too, so I significantly increased our investments."

"Unfortunately, this didn't turn out as I expected. Despite the macroeconomic downturn,

increased competition, and poor ad signals, online commerce has returned to prior trends. "I got this wrong, and I take responsibility."