Mark Zuckerberg to employees: “No hirings, more layoffs soon”
Mark Zuckerberg, the founder and CEO of Meta, has made it plain that the social network has stopped hiring at all levels and has threatened additional layoffs.
The Verge claims that Zuckerberg said these things during an internal call to staff members.
During the most recent Meta earnings call, Zuckerberg stated that “Over the coming year, we intend to gradually slow the increase of our headcount. We’re going to reduce the size of a lot of teams so we can focus on other things.”
Zuckerberg imposed a hiring freeze for some Meta departments in May.
He has, however, now extended the employment ban to all divisions and business sectors.
The parent company of Facebook, Meta, is reportedly placing certain employees on typical 30 to 60-day “lists” to find a new function inside the company or quit in order to reduce staff in order to reduce costs during the economic slump.
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According to previous reports, Meta has a traditional “30-day list” of employees whose jobs are being destroyed and has announced ambitions to reduce costs by at least 10% in the upcoming months.
Employees whose functions are deleted by Meta are vulnerable to termination under a “long practice” if they are unable to secure a new position internally within a month.
At the end of the second quarter of this year, 83,553 people were employed by the Mark Zuckerberg-led business.
Zuckerberg stated in July that the company’s strategy is to gradually reduce headcount growth over the coming year as Big Tech businesses lay off workers and halt new hirings.
Zuckerberg stated that many “teams are going to decrease so we can move attention to other areas inside the company” after acknowledging that the social network has entered an economic slowdown that would have a significant impact on the digital advertising industry.