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Guardian
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Facebook UK cut 700 staff and reduced tax bill last year, accounts show
- Facebook UK cut over 700 employees last year as part of global cost-cutting measures.
- The company reduced its UK tax bill to just over 12% of pre-tax profits, half of the standard corporation tax rate.
- Mark Zuckerberg admitted overinvestment during the pandemic, leading to job cuts.
- Despite a decrease in UK revenue, Facebook UK increased pre-tax profits.
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