Read the internal Facebook memos detailing a major hiring freeze, explaining 'slower' revenue growth
Executives explained the initial extent of the action in internal memos seen by Insider.Facebook is putting in place a massive hiring freeze and is reducing hiring targets in a move that will impact"almost every team across the company," executivesThese are rare moves for the company, which last year changed its corporate name to Meta to reflect a new focus on building"the metaverse.
While we're still going through our reprioritization, we know this will have an effect on hiring for the rest of the year. We came into 2022 with really aggressive growth targets and have hired at an incredible pace this year so far — we hired more engineers in Q1 than all of 2021. We've brought thousands of talented people into the company that are helping us work towards our ambitious goals and 2022 priorities.
We're in a strong position with a healthy business, and we feel optimistic about the opportunities to re-accelerate growth, particularly through unlocking new revenue streams through Reels monetization, incorporating AI into our ads system to overcome signal loss from iOS changes, growing business messaging and bringing the metaverse to life. But we also have to be responsible by responding to the unpredictable market forces that have put pressure on our business over the past few months.
- We will continue with scheduled interviews at onsite for IC6/M2 Eng candidates, but will not be adding any net-new candidates as we are confident we have enough people in process to meet our hiring goals.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Must Read: Miu Miu CEO Talks Micro-Mini Phenomenon, Simone Rocha Gets PersonalPlus, the history behind the popular lipliner trend from the '90s.
Read more »
New The Gospel on the Ground Bible Study | Read an Excerpt - Lifeway WomenToday we’re sharing an excerpt from Kristi McLelland’s new study, The Gospel on the Ground. Order your copy or view a free sample at lifeway.com/gospelontheground. In the book of Acts, the kingdom […]
Read more »
Facebook freezes hiring certain engineers as Zuckerberg trims spendingFacebook has put a freeze on hiring certain engineers as CEO Mark Zuckerberg trims spending and focuses more on moving existing staff around inside the company
Read more »
A’s lose fourth straight as offense struggles and Rays hit JeffriesThe A’s couldn’t get much out of their offense at the Coliseum Monday night.
Read more »
iPhone 14 delay fears beginning to materialize as largest assembler freezes hiringChina has now imposed a lockdown in the city where the biggest iPhone manufacturer is located and this may impact iPhone 14's production schedule.
Read more »
Denver’s major airlines turn focus to hiring as pilots age out of the industryAs pilots age out of the industry nationwide, major airlines operating out of Denver are vying to get ahead of the staffing problem.
Read more »