Good morning. Here’s what you need to know today:
- Public sector strike to go ahead today.
- Facebook fires 11,000 people as Zuckerberg admits he was wrong.
- Russia ordered troops to retreat out of southern Ukraine.
Public sector strike will go ahead as planned – PSA – SABC News
Government has reiterated that only members of the Public Servants Association (PSA) will be allowed to take part in planned industrial action today and there will be no total shutdown of government services. More than 200,000 PSA members will take part in the strike action over higher wages. Government services at home affairs, the department of transport, and border control are expected to be affected by the one-day strike. PSA members are asking for a 6.5% wage increase while government has offered a 3% increase. Read more here.
Meta to Cut 11,000 Jobs; Zuckerberg Says ‘I Got This Wrong’ – Bloomberg
Facebook parent company Meta said it would begin mass layoffs to cut costs after the business suffered several quarters of disappointing earnings and a slide in revenue. In a statement released on Wednesday, chief executive Mark Zuckerberg took responsibility for the layoffs and said he was “especially sorry to those impacted.” The Facebook co-founder said he had expected the surge in e-commerce and web traffic from the beginning of the covid-19 pandemic to continue to accelerate but it has not been the case. Read more here.
Ukraine latest: Russia orders withdrawal from occupied Kherson – Daily Maverick
Moscow officially withdrew its troops from the southern Ukrainian city of Kherson, which was the first significant city captured by Russia during its initial invasion of Ukraine. Kyiv forces have mounted a fierce counteroffensive in the city that has been successful in driving Russian forces out. Previously, Russian President Vladimir Putin had vowed that the territory would remain Russian “forever.” Read more here.
Here’s what else we’re reading today:
SA Business
- Nasa and SA space agency break ground on communications site for Artemis Moon missions – My Broadband
- Ex-Transnet legal boss in court over alleged cash, Persian carpet bribes – News24
- South Africa’s outlook sours – Business Tech
Global Business
- Twitter laid off all but one person at its only office in Africa just 3 days after it opened, report says – Business Insider
- Amazon becomes world’s first public company to lose $1 trillion in market value – Sydney Morning Herald
- FTX Warns of Bankruptcy Without Rescue for $8 Billion Shortfall – Bloomberg
Markets