A leaked video of Meta boss Mark Zuckerberg is surfacing on socail media, where he said "the most difficult changes we've made in Meta's history".
He further said the cuts represented 13 percent of the social media titan's workforce and would affect its research lab focusing on the metaverse as well as its apps, which include Facebook, Instagram and WhatsApp.
"I want to take accountability for these decisions and for how we got here," Zuckerberg said in a note to staff.
"I know this is tough for everyone, and I'm especially sorry to those impacted."
Ad-supported platforms such as Facebook and Google are suffering with advertisers looking to cut costs as they struggle with inflation and rising interest rates.
Zuckerberg told his 87,000-strong staff he had expected the boost in e-commerce and online activity during the Covid pandemic to continue, but added: "I got this wrong, and I take responsibility for that."