Meta promised a severance package when laid off 11,000 employees. It guaranteed to pay a base severance of 16 weeks plus an additional two weeks for each year of service. Meta in March became the first Big Tech company to announce a second round of mass layoffs, after showing more than 11,000 employees the door in the fall. Meta Chief Executive Mark Zuckerberg in March said that the bulk of the layoffs in the company's second round would take place in three "moments" over several months, largely finishing in May. About 4,000 employees lost their jobs in the April layoffs, Zuckerberg said during the town hall, following a smaller hit to recruiting teams in March.

Source: dna May 24, 2023 17:41 UTC