Meta cuts recruitment plans, expects headwinds

Meta cuts recruitment plans, expects headwinds

by Katie Paul

(Reuters) – Meta Platforms, the parent company of Facebook, has scaled back plans to recruit engineers this year by at least 30%, Facebook boss Mark Zuckerberg told employees on Thursday, asking them to prepare for a major economic trough.

“If I had to bet, I’d say this could be one of the worst dips we’ve seen in recent history,” Mark Zuckerberg told Meta employees in a weekly Q&A seen by Reuters. a sound recording.

Meta has reduced its engineer recruitment target this year to around 6,000-7,000 positions, against an initial project of 10,000 new engineers, the group’s boss said.

If the technological giant had recently announced a hiring freeze, no number had filtered.

At the same time, Meta has chosen not to recruit for certain positions, in particular in order to increase the pressure on senior managers so that employees who are unable to meet more aggressive objectives leave, said Mark Zuckerberg.

“Realistically, there are probably quite a few people in society who shouldn’t be there,” he said during the Q&A session.

“By raising expectations and having more aggressive goals, part of my hope is (…) that some of you might decide this place isn’t for you, and that self-selection is fine with me. “.

Meta is preparing for a complicated second half, as the macroeconomic environment and changes in the protection of user data on its platforms have affected its advertising revenues, according to an internal memo obtained by Reuters.

“I must stress that we are in a serious time and the headwinds are severe,” said the group’s product director, Chris Cox, in the memo posted to an internal discussion forum ahead of the Q&A session. .

A spokesperson for Meta said in a statement that the memo was intended to reinforce what the group had already said “publicly during quarterly results about the challenges we face and the opportunities we have.”

Many major technology groups have lowered their ambitions this year in fear of a possible recession in the US economy. Meta has lost about half of its market value since the start of the year, as its social network Facebook recorded the first quarterly decline in the number of its daily active users.

(Report Katie Paul; French version Jean Terzian)

Source

It is always my pleasure to provide insightful information on important topics and if you have learned something from my article then I thank you for taking the time to share it with your friends or family.

We put a lot of heart and invest a lot of time trying to bring you the most interesting articles.
You would encourage us to do it even better in the future. Thank you!

Related Posts: