Meta Cuts Hiring Plans By About 30% On 'Fierce' Economic Downturn Risks
NDTV
Facebook-owner Meta has cut plans to hire engineers by at least 30 per cent this year, CEO Mark Zuckerberg told employees.
Facebook-owner Meta Platforms Inc has cut plans to hire engineers by at least 30 per cent this year, CEO Mark Zuckerberg told employees on Thursday, as he warned them to brace for a deep economic downturn.
"If I had to bet, I'd say that this might be one of the worst downturns that we've seen in recent history," Mr Zuckerberg told workers in a weekly employee Q&A session, audio of which was heard by Reuters.
Meta has reduced its target for hiring engineers in 2022 to around 6,000-7,000, down from an initial plan to hire about 10,000 new engineers, he said.
Meta confirmed hiring pauses in broad terms last month, but exact figures have not previously been reported.
