Meta to freeze hiring, plans ‘very tight’ 2023 budget

The parent company of Facebook and Instagram is facing the slowdown in the American economy and in July published a quarterly turnover down for the first time in its history.

Meta will freeze its hiring until further notice, its general manager, Mark Zuckerberg, said Thursday, September 29, according to the Wall Street Journalthe Director of Human Resources announcing a 2023 budget “very tight”. The parent company of Facebook and Instagram is facing the slowdown in the American economy and in July published a quarterly turnover down for the first time in its history.

Asked by AFP, Meta referred to statements by Mark Zuckerberg during the last presentation of the results, without confirming or invalidating the hiring freeze. At the time, he had mentioned “trends” which would push the group to “Reduce, on a regular basis, the growth of the workforce next year”. “A lot of teams are going to shrink so we can reallocate our energy to other areas”had warned the leader and co-founder of Facebook.

Objective: reduce expenses by 10%

Also on Thursday, human resources director Lori Goler told Meta employees that the 2023 budget would be “very tight”according to Wall Street Journal. The manager announced that not all departures would be replaced. Last week the Wall Street Journal had reported that the giant of Menlo Park (California) intended to reduce its expenses by 10%.

Many companies in the technology sector have decided in recent months to freeze their hiring or even reduce their workforce. At the end of August, Snap announced the elimination of 20% of the 6,000 posts of the parent company of the social network Snapchat. In the second quarter, Amazon cut its workforce by 100,000 people.

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