Why Mark zuckerberg stop hiring in meta?
Meta founder and CEO Mark Zuckerberg has made it clear that the social network is freezing hiring at all levels, warning that more layoffs are on the way.
According to The Verge, Zuckerberg made the comments during an internal call to employees. Zuckerberg said in Meta’s latest earnings call that “Our plan is to gradually reduce core growth over the next year. Many teams will be downsizing so we can shift energy to other areas.”
In May, Zuckerberg announced a service chargeback affecting some parts of Meta. However, now it has extended the remuneration to all sectors and verticals.
Facebook’s parent company Meta is currently downsizing to cut costs amid the economic downturn, apparently putting some of them on the traditional 30-60 day “list” to find new jobs inside the company. business or leave. Meta plans to cut costs by at least 10% in the coming months and has fired several employees whose employees are being cut from its traditional “30-day list,” according to earlier reports.
Meta has a “long practice” where employees whose positions have been terminated are fired if they do not find a new job within a month. The company led by Mark Zuckerberg had 83,553 employees at the end of the second quarter of this year.
As the tech giant lays off workers and halts new jobs, Zuckerberg said in July that the company’s plan is to slow down its core growth next year. Admitting that the social network has entered an economic downturn that will have a broad impact on the digital advertising industry, Zuckerberg said many “teams will shrink so we can shift energy to other areas within of the company”.