Rumors have swirled this week that Meta, the owner of Facebook, WhatsApp, Instagram and Oculus VR, is sacking 13 percent of its workforce, a total of around 11,000 employees.
This comes in the wake of the company having spent an extraordinary $15 billion on its so-called 'metaverse' project.
The goal of the metaverse is to create some manner of online VR space where people will want to spend their time and money.
Fired staff will be receiving 16 weeks of base pay, plus two extra weeks' pay for each year of employment, plus all their remaining paid time off.
They and their families will also get health insurance for six months, three months of career support, and vitally, immigration support.
Affected staff will also be finding their access to most Meta systems is now cut off.
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