“No hirings, more layoffs soon” – Mark Zuckerberg to employees

Mark Zuckerberg, the founder and CEO of Meta, has stated unequivocally that the social network has ceased all hiring and has threatened further layoffs.

According to The Verge, Zuckerberg mentioned these things during an internal call to staff members.

During the most recent Meta earnings call, Zuckerberg noted, “We want to progressively slow the increase of our headcount over the coming year.” We're going to cut the number of many teams in order to focus on other things.”

In May, Zuckerberg imposed a hiring restriction for some Meta divisions.

He has since expanded the employment restriction to include all divisions and economic sectors.

The parent company of Facebook, Meta, is reportedly placing certain employees on typical 30 to 60-day “lists” to find a new function inside the company or quit in order to reduce staff in order to reduce costs during the economic slump.

According to prior reports, Meta has a regular “30-day list” of employees whose jobs are being eliminated and has stated that it plans to cut costs by at least 10% in the coming months.

Employees whose functions are removed by Meta are at risk of being terminated under a “long practice” if they are unable to find a new post within a month.

The Mark Zuckerberg-led company employed 83,553 individuals at the end of the second quarter of this year.

In July, Zuckerberg announced that the company's objective is to progressively restrict headcount growth over the next year as Big Tech companies lay off employees and halt new hirings.

Zuckerberg stated that many “teams are going to decrease so we can move attention to other areas inside the company” after acknowledging that the social network has entered an economic slowdown that would have a significant impact on the digital advertising industry.

Source; Dklassgh.Com