Meta announces plans to slow hiring following challenging quarter
CNN
Meta said Thursday it is cutting back on hiring. The move is one of several shifts the Facebook parent company is making following a period of slower-than-usual growth.
"We regularly re-evaluate our talent pipeline according to our business needs and in light of the expense guidance given for this earnings period, we are slowing its growth accordingly," said a statement provided by Meta spokesperson Andrea Beasley. The company still plans to "grow our workforce to ensure we focus on long term impact," the statement said.
The company does not currently have plans for layoffs, but the hiring slowdown marks a reversal from aggressive workforce growth during the first three months of 2022. As of March 31, the company's headcount was 77,805, up 28% year-over-year with 5,800 net new employee adds during the first quarter. Meta plans to slow or halt hiring for most mid- to senior-level positions, and recently also paused hiring early-career engineers. Business Insider first reported Meta's plan to slow hiring.
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