Last week $Meta Platforms (META.US)$ CEO Mark Zuckerberg announced 11,000 job cuts, 13% of its total workforce. Following the revelation, Zuckerberg said he was accountable for missteps at the social media giant as the company announced the mass firing.
Meta's layoff came just days after Twitter CEO Elon Musk announced thousands of job cuts just a week after his takeover.
According to a recent Insider report, Zuckerberg said he handled the layoff situation at his organization better than Musk. At a company town hall meeting on Friday, he said Musk needed more time to plan the layoffs as thoughtfully as Meta and other companies did.
However, Zuckerberg acknowledged there are no good answers even if companies approach layoffs thoughtfully.
Earlier, in an official statement, Zuckerberg described the layoffs as "the most difficult changes we've made in Meta's history."
I want to take accountability for these decisions and how we got here. I know this is tough for everyone, and I'm especially sorry for those impacted.
-Zuckerberg told his staff.
A week before, Twitter laid off close to 3,700 staff in departments across the company, including more than 983 employees in California.
$Twitter (TWTR.US)$'s layoffs were announced in emails and came without an apology from the new owner.
However, Musk went on Twitter to justify his move and said there was no choice when the company was losing millions of dollars daily. He also said that everyone who exited was offered appropriate severance.
Twitter's co-founder and former CEO Jack Dorsey apologized for the massive layoffs, saying he grew the company too quickly. "I own the responsibility for why everyone is in this situation," he said.
Twitter posted a net loss of $270 million in the second quarter that ended June 30, 2022, compared to a profit of $66 million in the same period last year.