Facebook Parent Company Lays Off 11,000 Employees; Largest Startup Layoff?

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Cindy Mutia Annur 10/11/2022 16:10 WIB

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Facebook's parent company, Meta Platforms Inc., will lay off more than 11,000 employees. Data from Layoffs.fi indicates this is the largest startup layoff since Covid.

10 Tech Startups and Giants with the Largest Layoffs Since the COVID-19 Pandemic*

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10 Tech Startups and Giants with the Largest Layoffs Since the COVID-19 Pandemic*

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Meta Platforms Inc., Facebook's parent company, will lay off more than 11,000 employees. This represents 13% of its total workforce of 87,314 employees as of September 2022.

This is Meta's first-ever layoff in its 18-year history, driven by rising costs and a weakening advertising market.

Mark Zuckerberg's company's massive layoff follows thousands of job cuts at other major tech companies in recent times, including Twitter and Microsoft Corp.

According to Layoffs.fyi, Meta's layoff is the largest among global tech giants and startups since the Covid-19 pandemic.

The next largest startup layoff since the pandemic was Getir, a quick commerce startup, which laid off 4,480 employees in May 2022.

Booking.com and Twitter occupy the third and fourth positions, with layoffs of 4,375 and 3,700 employees on July 30, 2022, and November 4, 2022, respectively.

Below is a list of the top 10 tech giants and startups with the largest employee layoffs since the pandemic (March 3, 2020 - November 11, 2022):

1. Meta: 11,000 employees
2. Getir: 4,480 employees
3. Booking.com: 4,375 employees
4. Twitter: 3,700 employees
5. Uber: 3,700 employees
6. Better.com: 3,000 employees
7. Uber: 3,000 employees
8. Peloton: 2,800 employees
9. Groupon: 2,800 employees
10. Byju's: 2,500 employees

In total, 1,306 startups conducted layoffs between March 1, 2020, and November 10, 2022, resulting in 214,014 employees being laid off.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."