Meta slashed its forecast of hiring engineers drastically, with CEO Mark Zuckerberg calling this period one of the worst economic downturns in recent history during an employee Q&A. The recruitment of specialized personnel will be cut by at least 30 per cent, or 6,000 or 7,000 new engineers against the expected 10,000. Overall, Meta is gearing up for a cost-less second half of the fiscal year, due to the increased tax burden and the loss of advertisers. In a statement, the company’s chief product officer Chris Cox said slower growth is to be expected for the current year, and that teams should not expect an expansion of the current workforce. In the first fiscal quarter of the year Meta lost 3 billion dollars, also due to the huge investments in the infrastructures of the metaverse.
#cuts #hiring #percent #Zuckerberg #talks #slower #growth