The cuts represent about 13 per cent of the company’s staff and are its largest layoffs since its 2012 IPO. The company is also cutting discretionary spending and extending its hiring freeze through the first quarter of 2023. (The Logic)

Talking point: Meta spokesperson Lisa Laventure wouldn’t say how many jobs the company is cutting in Canada, but social media posts from now former Meta staffers offered a glimpse of their impact. The social media giant had announced plans in March to hire up to 2,500 workers across Canada over the next five years. “Our expansion in Canada was always a long term one planned over a number of years,” Laventure told The Logic via email. “We remain committed to Canada and look forward to many years of innovation ahead in Toronto.” Meta is just the latest tech company, like Microsoft and Hootsuite, to cut back in the face of economic headwinds. “I want to take accountability for these decisions and for how we got here … I’m especially sorry to those impacted,” CEO Mark Zuckerberg said in a message to employees.