“If I had to bet, I’d say that this might be one of the worst downturns that we’ve seen in recent history,” Zuckerberg told staff, according to Olympia .
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Reducing Hiring Dofir wäert Meta seng Käschtenreduktiounspolitik ënnersträichen. D'Firma plangt nëmmen tëscht 6,000 a 7,000 nei Ingenieuren am Joer 2022 astellen, géint en initiale Projet vun 10,000 neie Rekruten, seet Reuters. Et ass also eng Revisioun vun 30% bis 40%.
Am Mee eng Quell gesot TheStreet that the social media giant was planning to halt or in some cases slow hiring for most mid-to-senior level positions. The goal was to revise priorities and align hiring targets with current market estimates and pacing, the source said.
“We regularly re-evaluate our talent pipeline according to our business needs and in light of the expense guidance given for this earnings period, we are slowing its growth accordingly,” a Meta spokesperson told TheStreet at the time in an emailed statement. “However, we will continue to grow our workforce to ensure we focus on long-term impact.”
But in a recent memo, chief product officer Chris Cox said that: “I have to underscore that we are in serious times here and the headwinds are fierce. We need to execute flawlessly in an environment of slower growth, where teams should not expect vast influxes of new engineers and budgets.”
Hien huet derbäigesat:
“We must prioritize more ruthlessly, be thoughtful about measuring and understanding what drives impact, invest in developer efficiency and velocity inside the company, and operate leaner, meaner, better exciting teams.”
Pushing Employees Out Besides cutting hiring, Zuckerberg has found another way to cut costs: pushing current employees out. To do this, Meta will set aggressive performance goals that will be difficult for some employees to achieve.
“Realistically, there are probably a bunch of people at the company who shouldn’t be here,” the chief executive said.
“Part of my hope by raising expectations and having more aggressive goals, and just kind of turning up the heat a little bit, is that I think some of you might decide that this place isn’t for you, and that self-selection is OK with me,” he added.
In April, Zuckerberg tried to downplay the turnover of Meta employees, amid concerns that Meta’s stock market slump might prompt some employees to leave because the value of their stock options was decreasing.
“One thing that I want to add just as a bit of cultural commentary on the attrition question, is I don’t think that this sort of volatility that companies face is always that unhealthy for making sure that you have the right people at companies,” the young billionaire told analysts during the first quarter earnings’ call.
“I mean during Covid, we saw the attrition levels go down a lot because people didn’t want to get new jobs, which probably meant that there were people who were staying at the company who didn’t care that much about what we were doing as compared to what we would have wanted.”
He added that: “I’m just trying to lead the company in a way where we’re positioning ourselves as the premier company for building the future of social interaction and the metaverse. If you care about those things, I think we’re getting the best people to come work here.”
Meta shares, which closed 2021 at $336.35, fell 53.7% to $155.83 as of June 30.
The firm didn’t respond to a request for comment.