Highlights

According to Bloomberg reports that Meta CEO Mark Zuckerberg announced plans to stop hiring and restructure some groups within the company

Latest news

ASUS Announces Festive Discounts Across Laptops, Gaming PCs And Tablets

Priyanka Gandhi lies on ground, Rahul detained as Delhi Police stop INDIA bloc MPs' Jantar Mantar march

Emotion, tears as Messi retires from Argentina national team

Rajpal Yadav tells CJI Surya Kant his legal troubles inspired film title ‘Solah Sawan Jhel Ke’

Arun Govil returns to ‘Ramayana’ as King Dashrath in new poster

Sensex falls 429 points, Nifty slips 173 points after RBI rate hike

RBI raises repo rate by 25 bps to 5.50%, shifts policy towards tightening

AAP stages ‘vote theft’ protest in Delhi, workers stopped by police barricades

Meta announces hiring freeze, Zuckerberg blames economy

Name: Meta announces hiring freeze, Zuckerberg blames economy
Uploaded: 2022-09-30T14:47:03.000+05:30
Duration: T00M37S
Channel: Editorji News Desk
Description: Bloomberg reports that Meta has put all hiring on hold. News reports in May suggested that the company would slow down the rate of new hires this year.

Zuckerberg said most team budgets would be reduced
Meta CEO Zuckerberg reportedly announced a hiring freeze to employees

Updated: Sep 02, 2022 10:53

Editorji News Desk

Join our WhatsApp Channel

Meta announces hiring freeze, Zuckerberg blames economy

As the tech industry suffers through a slowdown in recent months, Facebook’s parent company Meta announced hiring freeze and “further restructure”.

Acoording to reports, Zuckerberg made these comments during an internal call to employees.

Zuckerberg also said that Meta would reduce budgets across most teams, and that individual teams will have to resolve how to handle headcount changes, the report added.

Zuckerberg reportedly added that budgets will be slashed across most teams at Meta, which owns Facebook, Instagram and WhatsApp.

The announcement comes after several tech companies have been forced to slash headcount in recent months, as advertisers trim spending in anticipation of a recession.