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    Facebook parent company Meta sheds 11,000 jobs in latest sign of tech slowdown

    The layoffs represent the first large-scale workforce reduction in the company's 18-year history.
    by Bobby Allyn Nov 09, 2022 2 minutes

    Facebook parent company Meta announced extensive layoffs on Wednesday, shedding 11,000 jobs, or about 13% of its staff, amid an industrywide slowdown that has rattled Silicon Valley in recent months.

    The cuts represent the first sweeping workforce reduction the company has undertaken since it was founded in 2004 and the latest sign that once-invincible tech behemoths are in a moment of reckoning.

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