Meta will freeze its hiring until further notice on Thursday, Sept. 29, CEO Mark Zuckerberg said. Wall Street JournalThe director of human resources announces 2023 “very strong”. The parent company of Facebook and Instagram is grappling with a slowing U.S. economy and in July posted quarterly revenue for the first time in its history.
Asked by AFP, Meta referred to Mark Zuckerberg’s statements at the last results presentation, not confirming or canceling the hiring freeze. He noted at the time “trends” which will drive the group to “Regularly reduce labor force growth next year.”. “A lot of teams are going to downsize so we can reallocate our energy to other areas.”warned the head and co-founder of Facebook.
The goal is to reduce costs by 10%
Also Thursday, Human Resources Director Lori Gohler told Meta employees that the 2023 budget will “very strong”according to Wall Street Journal. The manager announced that not all departures will be replaced. Last week Wall Street Journal reported that the Menlo Park (California) giant intends to reduce its costs by 10%.
Many tech companies have decided to freeze hiring or even cut their workforce in recent months. At the end of August, Snap announced the elimination of 20% of the 6,000 posts of the parent company of the Snapchat social network. Amazon cut 100,000 jobs in the second quarter.
Source: Le Figaro
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