Meta has generally acknowledged freezing the employment process but has declined to provide specific numbers.
New Delhi: Meta has issued a warning to its staff, telling them to prepare for “difficult times” ahead. Meta is actively reducing its hiring. CEO Mark Zuckerberg of the firm disclosed a nearly 30% reduction in the company’s planned engineering hiring. During a weekly employee Q&A, Zuckerberg also stated that the company is “turning up the heat” on performance management to remove employees who are unable to fulfill their goals.
Actually, a lot of the employees at the company definitely shouldn’t be there, according to Zuckerberg. I think some of you might decide that this place isn’t for you, and that self-selection is OK with me, so that’s part of my hope for raising expectations, having more aggressive goals, and just sort of turning up the heat a little bit,” he was cited by Reuters as saying. Employees were informed by Zuckerberg that the current economic crisis in Meta is the worst in recent memory.
Meta has generally acknowledged freezing the employment process but has declined to provide specific numbers. According to Zuckerberf, the corporation has lowered its goal for employing engineers in 2022 to between 6,000 and 7,000. Initially, the corporation had intended to bring on approximately 10,000 new engineers, but things have changed.
Chris Cox, the chief product officer of Meta, recommended in a message that the business run leaner, meaner, and better-executing teams. “I must stress that the situation is dire and that there are strong headwinds. We must perform flawlessly in a slower-growth environment where teams shouldn’t anticipate massive influxes of new engineers and funding, “Cox said.
The largest social network firm in the world, Meta, had a loss in daily active users recorded by Facebook this year, which caused Meta to lose approximately half of its market value. The popularity of Instagram Reels is growing, though. Users in the US and other markets were spending a lot of time on Reels, according to Cox.