Thursday 29 September 2022 10:20 PM Mark Zuckerberg is freezing Meta hiring and warns of lay-offs and restructuring trends now
Mark Zuckerberg tells Meta workers that he will freeze hiring and warns of lay-offs and restructuring in preparation for 'looming recession'
Mark Zuckerberg told employees that the company is going to 'plan somewhat conservatively' because the economy has not stabilized The company previously had cut plans to hire engineers by 30 percent Meta is planning reduced budgets across most company teams, including lay-offs in some departments By Ty Roush For Dailymail.Com and Reuters
Published: 22:05 BST, 29 September 2022 | Updated: 22:12 BST, 29 September 2022
Meta Platforms is enacting a hiring freeze and some financial restrictions amid the company's largest budget-cutting move since the founding of Facebook in 2004, Mark Zuckerberg announced to employees.
Zuckerberg told Meta employees he expects the company to be smaller in 2023 than it was in 2022 during a Q&A session this week, according to a report by Bloomberg.
Plans for downsizing throughout the company are the first in the company's 18-year history.
'I had hoped the economy would have more clearly stabilized by now, but from what we're seeing it doesn't yet seem like it has, so we want to plan somewhat conservatively,' Zuckerberg
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