Asley Simon / sept 30, 2022
Chief executive Mark Zuckerberg explained the decisions to staff by citing the unpredictable macroeconomic situation.
Several tech companies have recently cut jobs as advertisers cut spending in anticipation of a recession.
According to sources, the social media company dropped plans to hire engineers by at least 30% this year.
The company disclosed extensive employment freezes in May, although particular amounts were not previously reported
Meta declined to comment, but shared a statement from a July earnings call in which Zuckerberg stated that reorganisation would be a higher priority this quarter.
Zuckerberg said Thursday that Meta will lower spending across most departments and that teams must decide how to handle personnel changes.
Following a surge of success that escalated during the epidemic, the tech industry has been experiencing a dip in recent months.