Tuesday, February 20, 2024

Facebook CEO Mark Zuckerberg warns of layoffs

mark zuckerberg

Mark Zuckerberg said stop hiring.

Meta founder Mark Zuckerberg has warned of more layoffs soon after the social network halted board hiring.

According to The Verge, Zuckerberg made these remarks to his employees during an internal call.

mark zuckerberg

Zuckerberg mentioned during the last Meta Earnings call that we plan to continue to reduce headcount growth over the next year. Many teams are falling short so that we can shift the energy to other areas.

However, they have now frozen the hiring of all departments.

Facebook’s parent company Meta is currently laying off staff to cut costs amid the economic downturn, apparently forcing some of them to find a new role within the company or leave the traditional 30 to 60 day lists. is putting.

Meta plans to cut costs by at least 10 percent in the coming months and, according to earlier reports, more and more workers have been taken off their traditional 30-day list.

META has a longstanding practice where employees whose roles are terminated are fired if they cannot find a new job internally within a month.

The Mark Zuckerberg-run company had 83,553 employees at the end of the second quarter of this year.

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