Meta freezes hiring amid ‘very tight’ 2023 budget

According to the Wall Street Journal, Meta, the parent company of Facebook and Instagram, announced an internal hiring freeze in the face of declining turnover.

No hiring until further notice. According to Wall Street Journal, that’s essentially what Meta chief executive Mark Zuckerberg told his teams on Thursday. Because, the web giant’s 2023 budget looks “very tight”according to the director of human resources.

The parent company of Facebook and Instagram faces the downturn in the US economy and published, in July, a quarterly revenue down for the first time in its history.

Many companies in the technology sector have decided in recent months to freeze their hiring or even reduce their workforce.

Departures not replaced

Asked by AFP, Meta referred to statements by Mark Zuckerberg during the last presentation of the results, without confirming or reversing the hiring freeze. At the time, he spoke of “trends” that would push the group to “reduce, on a regular basis, the growth of the workforce next year”.

Many teams will decrease so that we can reallocate our energy to other areas,” warned the leader and co-founder of Facebook.

Also on Thursday, human resources director Lori Goler told Meta employees that the 2023 budget would be “very tight,” according to the Wall Street Journal. The manager announced that not all departures would be replaced.

Widespread downsizing

Last week, the Wall Street Journal reported that the Menlo Park (California) giant had reduce expenses by 10%.

Many companies in technology sector have decided, in recent months, to freeze their hiring, or even to reduce their workforce. End of August, Snap announced the elimination of 20% of the 6,000 posts of the parent company of the social network Snapchat. In the second trimester, Amazon reduced its workforce by 100,000 people.

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