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Meta lays off more than 10,000 employees

MENLO PARK, Calif. (NBC, KYMA/KECY) - Meta announced Tuesday it will slash 10,000 workers from its payroll.

CEO Mark Zuckerberg said about half the job cuts will be from 5,000 open roles that haven't been filled.

In November, the social media giant eliminated 11,000 jobs or about 13% of its workforce.

The company's revenue has been in decline for three straight quarters.

News of the layoffs pleased investors; the company's stock surged more than 5%.

Meta and other tech firms hired aggressively for about two years, but now layoffs are sweeping through the tech sector.

Article Topic Follows: California News

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