Meta: 11,000 redundancies, including head of global sports partnerships Peter Hutton

Meta, parent company of the social networks Facebook and Instagram and the instant messaging platforms Whatsapp and Messenger, will be laying off more than 11,000 people from its global workforce, announced CEO Mark Zuckerberg in a letter to employees on 09/11/2022.

This figure represents 13% of the group's total workforce. Among the employees being let go are Peter Hutton, head of global sports partnerships, Leonardo Lenz Cesar, head of media partnerships in Latin America, and Joyee Biswas, head of media partnerships in the Asia-Pacific region, according to US media reports the same day.

"We are also taking a number of additional steps to become a leaner and more efficient company by cutting discretionary spending and extending our hiring freeze through Q1 (2023)," explained Zuckerberg in his letter.

"The macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be much lower than expected" (M. Zuckerberg, Meta)

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