Meta CEO Mark Zuckerberg announced that his company will be laying off more than 11,000 employees in the US. Taking responsibility for the layoff, Mark Zuckerberg said in a blog post that he ‘is sorry for those impacted’ and that the company will compensate them and help them get another job. Meta has said those laid off recently will be eligible for 16 weeks of base pay along with two additional weeks for every year of service with no cap. This means those who worked in Meta for five years will get 26 weeks of base pay.
Apart from the pay, employees will also get their Paid Time Off (PTO). All employees are expected to get their payments cleared by November 15.
Moreover, Meta will also cover the cost of healthcare for laid-off employees for six months along with their families. Zuckerberg also mentioned that it plans to provide three months of career support with external vendors and get access to unpublished job leads.
For those working in the US on a visa such as H1B, Zuckerberg said there is a notice period before termination along with some visa grace periods, meaning the majority of people can make plans and sort out their immigration status. Meta has dedicated immigration specialists who will help you with the transition.
Meta plans to reduce the workforce in every department and organisation under its umbrella including Facebook, WhatsApp, Messenger, Reality Labs and Instagram.