Zuckerberg explains why Meta fired 11,000 staff, says 'I take responsibility'

Meta CEO Mark Zuckerberg took responsibility for firing over 11,000 employees. He said he predicted the accelerated e-commerce growth would continue after Covid and Meta significantly increased its e-commerce investments. "Not only has e-commerce returned to prior trends, but the macroeconomic downturn, increased competition, and ads signal loss have caused our revenue to be lower," he added.